The current cost for what they’re calling “windows 365” is $99/yr per user.

Windows 365 Enterprise basic starts $31 per user per month and goes up from there.

I suspect you are confusing Windows 365 with Microsoft 365. The former includes a virtual (Cloud) PC and licensing for Windows and Office, the latter only provides Office licensing. Additionally the price point you quoted makes me think you are looking at Personal / Home pricing because Commercial & Government Office 365 pricing is calculated per user / per month and will vary wildly in price from $10 pu/pm to $50+ pu/pm.