Given the modesty of both its task and its output, this is wayyy too expensive and always has been. $4 would be more appropriate — and I’ve held that opinion far longer than I’ve been aware of the existence of PDF Squeezer, which is of like quality (though easier to use) and costs only $3.99.
And if that’s the new icon above, I fail to see any improvement over the previous one, which was unmemorable at best.