It's possible for something to be overpriced to the customer and simultaneously underpriced for the business to be profitable. Theoretically speaking, they could just be selling such an inefficient product.
It's also not a law of nature that there be a valid/efficient form of a product that makes a business profitable. I'm in no place to judge whether that's the case here, but not all products are viable.
You would need to demonstrate an impact for a line item that big. A 3k person org at $200/seat would be >$7mill/year. That places you very well into self hosting Kimi K3 territory and the never having: price hikes, dependency on a 3rd party, etc.
Market failure! Market failure is the term you're looking for.
Also see: childcare, healthcare, many forms of public transport and social infrastructure. Some things markets simply cannot deliver well, and that's okay.
Daycare is the most easily reachable example because it's quite simple compared to the others. Daycare workers are simultaneously some of the lowest paid workers in the US, yet daycare costs are famously high and prohibitive, yet childcare centres are very far from money-printing machines. Margins in the daycare sector are most commonly < 1%.