In your example of Grasshopper then, they are basically giving you a steep discount with no commission in the hope that the LTV of those customers (and total new customer volume) will be worth it?

Assuming that is the case, I've seen this in a few industries with mega deal bundles. The deal company charges for the bundle with the hope that companies will offer them competitive deals for free (and potentially cut them in on a % of total deal sales if they co-promote it).

TBH, I haven't seen much success from testing these sorts of things myself (not yours necessarily, just generally speaking). The issue is always that they don't get enough volume to be really worth it for brands of a certain scale.

There's also the concern that people are buying discounts, not product, so I imagine there are a bunch of people that buy this for discounts off of a couple products, and ignore the rest. Depending on what a given brand would need to contribute to get listed in this, that directly determines whether it is worth it or not to get you all the assets, help with co-promotion, etc.