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It is a lot but processing real time video and audio streams inherently consumes alot of CPU. So they may not be making as much profit on that price as you'd think.

I run an open source alternative to Recall (for meeting bots), and our costs are about 8 cents per hour.

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$0.70/hr is our starter rate for low-volume testing. In production, developers will see higher usage and choose to commit to volume and longer-term usage. Because of this, we've seen most teams don’t pay the starter price once they scale beyond early pilots
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Is this with active speech or you pay in every second of silence too?
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Usage includes silent time too as we are still processing the media streams
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What is the value in paying this massive cost when Teams, Zoom all support ootb?
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Enabling transcription/recordings per platform and remembering to record creates user-dependent setup. Also the host often needs to install apps which adds security friction, and you still have to build/maintain separate implementations for Zoom/Meet/Teams which is often a cost that devs don't want to deal with

Instead, we built a single API that can get the same results without the issues mentioned above so you can focus on building the features your users care about

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