@matt, avada sold 350k in 5 years, I would not be surprised if only the themes sold on evanto by themselves vastly pass the 1% mark.

my own plugin has a 0.5% conversion between the free (80k users) version and the pro after one year with almost zero marketing effort, and 10% conversion over time seems to be a realistic goal.

It is all about price point and ROI. Maybe people that use wordpress as a blog do not buy plugins/themes (also doubtful, people that think they need it are willing to pay, even if it is only a hobby, take a look at all the i-toys)

I am sure you didn't buy woo, and invest all the money in jetpack development assuming only 1M wordpress sites as a market.