Open source rules the world. A lot of people use HashiCorp's OSS products; not a lot pay for them. I certainly haven't and I don't think I've ever met a paying Hashicorp customer even though I know lots of people that use their products. They are a consulting business ultimately. And like many such companies they thrive on complexity. They are doomed to become part of the problem they are trying to solve. If they suc…
I'd say two parts are key: support (you can see it as a kind of technology insurance) and customized, tailor-made solutions in more demanding cases.
Those who use Hashicorp products for free mostly would never pay for them. But some of those people will work in larger companies which would pay, and it is important for Hashicorp (Microsoft, Google, etc) that those people, as technical experts, would suggest buying the tools they know and love.