Does Google consider an example of Wall Street Journal where
User who are not subscribed to WSJ do not see the full article and Users who come to the same article via Google search result link see the full article a violation of their webmaster guidelines and does this affect SEO? This is a form of cloaking but is required by Wall Street Journal to make money by allowing Google to index their content by showing it the full article but not showing the full article to users who have not paid for it.
So my question again is, does showing a different page than what is shown to users who are not privileged to see the page affect SEO?