I did some digging in the /r/uwaterloo subreddit and it turns out that some customers were getting packages at no cost. Perhaps it wasn't financially viable.
I used it a bunch of times and having it on campus was pretty great. It was way safer than having the packages left randomly at the front of your residence. So as far as a "solved problem" is concerned, this definitely wasn't solved in any shape or form at Waterloo until BufferBox arrived.