People are so cheap it's ridiculous. If we ever get past people being unwilling to pay for software beyond rates of 1 cent per hour tech will blow up to 10x as big as it is right now.
Alternatively, people are tired of paying subscriptions for everything. And many SaaS actively mislead on price and employ dark patterns to make canceling difficult. It's often not worth the hassle.
Think of all the different software and tools you use daily and consider how much you would pay if they were all $20/month subscriptions. Using something daily also says nothing about the value it provides - maybe there is only marginal utility over the next best option but being free makes it worth it. SAAS vendors are so greedy it's ridiculous.