Part of Anthropic's moat is Claude Cowork & Claude Code. They got coders comfortable with CC and enterprise users comfortable with Cowork, and both are creating stickiness.

The reality is that $20/$100/$200/mo feels reasonable to a lot of people relative to the value they're getting out of Claude, and if they switch to something else, there's a risk that it won't be as good, and they'll have a new tool to learn.

It's not an insurmountable moat, but don't underestimate the user experience. The iPod didn't win because it was the cheapest device or the one with the most features.