Very broadly speaking daytime 'town' services are run commercially and are not subsidised by the County Council. Any cuts to these are likely to be because the operator no longer regards the current level of service as commercially viable.
Subsidised services have, in the past, tended to be rural and evening services, that would not run at all, were it not for the subsidies. We have already seen cuts to many of the evening services. Do not be surprised if daytime services also start to see significant cuts next.
So we have a combination of operators deeming more and more services commercially unviable and a County Council been asked to consider supporting more and more services, whilst reducing its overall level of support.
Where will this end? Well counties such as Oxfordshire have ended ALL subsidies for buses. If Staffordshire County Council did that then we would probably end up with a limited daytime service on a few key routes, with no, or very few, rural and evening services.
Outside of London, we have a nation of a car owning taxpayers who, mostly, see bus subsidies as an unnecessary expense, and a government and councils who are happy to oblige. Result: sections of the community (in particular the young, disabled and elderly) unable to get to and from work, shops, medical centres etc.
By the way, I speak as a car owner / driver who is fed up of seeing a few pence shaved off the tax on fuel and my income tax reduced, whilst sections of our community are being completely screwed. Its certainly not what I voted for.