Hi. This error means you are not authorized to connect to PageCDN without API key. Or, if you entered an API key, then it means the key is not fully active. We are working on another plugin update to make errors more descriptive.
The reason why it requires upgrade to paid plan is this plugin combines both public and private CDN features. It not only searches script files on Public CDN to give your site access to highly cacheable resources, but also uploads rest of the files including user uploaded images to the Private CDN so that the entire WordPress website loads fast. This private file upload and delivery through CDN consumes bandwidth, storage and other resources that require upgrade to paid plan.
Thanks.