I have been using iCloud to back up my iOS devices like my iPhone and iPad and needed more than the free 5GB capacity. Although this works for many my devices needed more than that. I always felt it was a bit on the expensive side to purchase more space. Well Apple have listened and lowered the price significantly but they have a also massively increased the capacity way beyond any expectations.
I guess this has a lot to do with the idea you will need a lot more space if you are going to use Pages, Numbers and Keynote more for creating your word processing, spreadsheets and presentations. These are not to bad and well priced making them a better option than Word, Excel and PowerPoint. Word and Excel and way ahead but the Apple offerings are adequate and certainly enough for many people like students who are watching their pockets. Keynote is great and certainly gives PowerPoint a run for its money.
Anyway back to the iCloud storage. Whatever the reason this extra capacity at a lower price is very welcome and if you are finding that 5 GB of free storage is not enough then this will help and keep your devices backed up with that all important information.