I'm not sure price is the parameter to compete on for email services, at least for me. Email is extremely important to most businesses, and if I'm already paying for a domain, and running a business, even the $70 for a Workspace solution is a drop in the bucket. What I need, however, is deliverability, strong privacy and security, good spam filtering, and support when I need it.

I'd encourage you to try doubling or tripling the price so you can afford to hire more people and grow the business :) I suspect the rate of signups will stay the same.