Sorry, I disagree. The lack of a business model means a lack of competition and a weak market. For years I've been looking to find an email list hosting solution that works for a small family, sports team, friends group, etc. There is next to nothing in this space besides Google Groups. There are a few hosted mailing list solutions, but they have enterprise features and pricing.
$240/yr is a lot to just have a couple of family mailing lists. Even for creating mailing lists for youth sports teams, local civic orgs, and things like that it's really high.