Where the $411 goes
Workspace is not overpriced. It is priced as an office suite, because that is what it is — mail, calendar, video, documents, storage and administration sold as one seat. The seat is good value if you use the seat.
The problem is that a lot of small teams buy the whole suite and use one twelfth of it. The documents moved to Notion. The calls moved to Slack huddles or Zoom. The files moved to Drive-shaped holes in Dropbox, Figma and GitHub. What is left running on that $7 a month is Gmail with your domain in the From line.
Priced on its own, that is a mail server, storage, and a spam filter. Five of them, for a year, is $9 here. The rest of the invoice is buying software you already replaced.