The "service" would be continuous product improvements, technical support, hosting of the app and your hosting of your data. I think it's erroneous to seize on

The "service" would be continuous product improvements, technical support, hosting of the app and your hosting of your data. I think it's erroneous to seize on the "service" aspect of SaaS. In many cases you are effectively paying a monthly licensing fee for additional functionality within the app.