I think it is also one of the rare industries where the price of the good is so vastly under-priced (often zero!) for the value it provides -- especially if you use the "sell once, update forever" model people claim to desire. Few people would want to pay for it that way though, I would assume.

Especially considering that so many people get extremely high quality software for free (open source, free software, apple style "comes with hardware purchase", etc) these days.