Except one consideration that lead to paying what they are paying is that they also get the risk reduction and redundancy of a team and not a single person who could easily end up out of action taking all productivity with them.
These days, companies much larger than one person can shut down overnight, without warning. It happens.
Frankly, barring some accident, I'm betting the solo company is more motivated to keep things running than the larger company that might sell out to a larger rival and allow their service to be shut down or changed negatively (with little or no warning to customers).
