It just takes time for free software to match commercial offering at first, but eventually it surpasses them (too many example to list) for 90% of the uses.
If it let me cancel my Bloomberg subscription, why not?
All I want is reddit + twitter firehose sentiment mining, accurate plot of basic (EURUSD, wood futures) and not so basic (VIX) things.
I do not need to keep track of cargo ships on a map.
However, if I was a Taiwanese trader or market maker, I'd likely pay Taiwanese exchange fees to get access to richer, real-time data (specifically, non-delayed quotes and more market depth.)
I can get this access in under 5 seconds by opting into the desired exchange privileges under EXC<GO> or most likely just pinging my Bloomberg rep. If I remember correctly, I have to log out and back in for the new permissions to permeate my terminal. The cool thing is that all functions automatically leverage the highest level of subscribed data.
Whether I need to jump through more procurement hoops than that depends on where I work. If I am in a small hedge fund, I can just "do this" and if I am in a big firm, we likely already have this data subscribed for.
One of the many reasons Bloomberg exists and continues to be immensely valuable is that it prevents you from having to mess around with individual exchange permissions and data in a one-off way. And don't get me started on normalizing data across exchanges - the fact that Bloomberg does that for you is worth the price alone.
Source: Former Bloomberg employee, former Bloomberg market data client.
Because there is a marketplace. If Gamestonk is successful, there will be a marketplace for low latency feed + commercial support to configure them for you.