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That’s only part of the equation. Grid displays require a lot more memory and often power to drive. By contrast, a seven segment display requires 7 (or 8) LEDs and 8 bits per digit on the output stage, 4 bit in BCD, which can be fed via a shift register.

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Almost any other display that you will reasonably use in a application that makes sense for segmented multiplexed LEDs will integrate internal controller, so instead of having to refresh the thing somehow you have a thing that is simply an peripheral hanging of some or other bus that just does its thing. And well, such things tend to be cheaper than seven segment LEDs (there is a reason why random almost disposable crap has graphical monochrome OLED panels)

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