So .... double the price of Google's offering, and available on a limited number of devices (5, from the article). And it does't include the real money-spinners (like Visio). So that is an additional fee, most likely.
Office Home Premium costs around R1,900. $100 is a tad over R900 right now. So you'd pay it off in just over 2 years. MS releases a new Office suite every 3 years. So buying the packaged version every few years is still slightly cheaper than Office 365.
So it's more expensive than Google's offering, and more expensive than buying it outright. Why would I want this, again?