It is correct but not necessarily natural sounding. Other ways to phrase it: We will not be happy If we cannot download for free. We won't be satisfied if free downloads are abolished. If free downloads are unavailable we will be dissatisfied.

Hi! "Whenever" is used more for repeating events, whereas using "when" would imply a single event. i.e. "whenever I drive, I blast music." (implies you drive regularly) vs "when I turn 25, I want to have a party." (it is a single, non repeating event-- you can only turn 25 once) So I would say, "When we can no longer download for free, we will feel dissatisfied." or, for something more informal, "When we cannot download for free anymore, we will be dissatisfied." "anymore" and "no longer" mean the same thing, but "anymore" is more informal.