The license is probably cheaper than having a front end dev invest time into making this embedding work well. Well-built React components can be a great business if you can entice enough people to use them and provide enough support.
In most desktop applications, you can probably get away with an iframe to do much of the same thing if you want an alternative. Just put up a static HTML file on your web server that loads pdf.js and takes a path to a PDF file to render and you're pretty much done. If you want to work around the annoyances iframes cause, this library is probably along the lines of what you'd build.
A bit like email to fax services. Or PC cleaners. Want to edit a PDF for free? That is going to be a very unpleasant experience.
Counterexample is drawing programs 2D and 3D. Lots of excellent free open source software from Inkscape to Blender to Photopea.
Draft.js is a popular example of what I'm talking about - other libraries would just wrap around a WYSIWYG solution and call it a day. Also note how this PDF component is not advertised as a wrapper, but is one in reality.
For people who want a React wrapper around pdf.js, there are open source alternatives such as react-pdf: https://github.com/wojtekmaj/react-pdf
Also, it appears to be feature-rich and yet easy to use for simple use cases.