Yep. There's so much bullshit you hear about elasticity of demand and extracting the most amount of profit from your customers. Yes, if I charge 3 times more,

Yep. There's so much bullshit you hear about elasticity of demand and extracting the most amount of profit from your customers. Yes, if I charge 3 times more, and lose less than two thirds of my customers, I'll make more profit in the short term. But long term, network effects and the size of my customer base is very important for my ability to make money. Personal recommendations are a very important marketing factor, and having three times the number of customers is worth something even if you make the same profit.