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It is and it isn’t, those are pretty standard fixed wireless rates. It’s largely used in pretty rural areas where you wouldn’t be able to get fiber or cable or often even DSL. They compete against things like hughesnet that’s more expensive and has something like a 15gb data cap. Or starlink for $150 a month and $500 of equipment and the weight on your soul of giving Elon money.
They often run wireless backhauls for tens of miles across multiple towers so bandwidth is pretty limited and setup and maintenance is somewhat specialized. Like yeah if you can get cable or fiber do that it’s way better. But when there’s no other option is not that bad all things considered.
Often they serve areas where there’s basically no cell coverage. That’s why we used them when we did after trying a number of antennas and boosters. We’ve had neighbors put up 12m towers in conjunction with the WISP to get service.