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MicroPro, the company behind Wordstar, was the dominant word processing company in 1984. They were the largest software company in the world at the time, with about 25% of the industry. They went public in 1984 for a market cap of $165M. That's $482M in 2016 dollars.

What makes this word processor worth $750M?

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For one, the market is a lot bigger. Only 8.2% of all US households had a computer at all in 1984, and only 18.3% of adults aged 18 or above had reported that they used a computer somewhere (either in school, at work or at home) [1].

[1]: https://www.census.gov/hhes/computer/files/1984/p23-155.pdf

But the prices for apps are a lot lower.

Not necessarily. A copy of Microsoft Office Home & Student 2016 is still $150, and Google Apps for work is still $5 or $10 per user per month. Heck, Slack is $6.67 or $12.50 per month per user.

Microsoft Office was $499 to $999 in 2000.[1] And that was promotional pricing.

[1] https://news.microsoft.com/1999/01/07/microsoft-announces-of...

In the enterprise market?

my guess: https://commons.wikimedia.org/wiki/File:Personal_computers_(...

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