Microsoft Office for iPad is finally here but is it too late (and too expensive)?

Microsoft Office for iPad is finally here but is it too late (and too expensive)?
Office for iPad

Office for iPad  

Microsoft has finally launched Office for the iPad but you'll need an Office 365 subsciption which will set you back about $119 a year in Australia.

I think Microsoft had to bring office to the iPad (and I praise them for doing so)  but I think it's too late, Apple offers an alternate suite of programs all free and many people have just managed to find and come to love alternatives.

Check out Microsoft's new CEO Satya Nadella announce the release:

http://youtu.be/EoOomkuGNMg