No, you're not missing anything, but then again, you are.
DropShark is yet another list searcher. But it has a number of key features that make it different. First, it's fast. Very fast. It can do a compound word search across 5 days of data in less than 10 second on an Athlon 2800+ with 512M of RAM. It's slightly slower if you have less RAM, but it's still faster than anything else out there.
Second, it comes with the list service included in the licensing price - it's NOT a subscription service. So a single $29.95 license means that you'll get all 5 days of data, every day, for as long as the drop continues (and even if WLS happens, which I still think is unlikely, there will always be a drop). So if you're paying money to a web site for a subscription to the dropping-name list, you no longer need to do so.
And third, it comes with my brain. I've got pages full of ideas for new features that will make it more than just yet another list searcher, and I suspect that most here will agree that I know a little bit about this market. So an early-adopter license means you'll get upgrades for life. That's everything I think up, and some things that I've come up with that I'm certain nobody else has. And since the application loads its data from my web service, I have a number of features planned that nobody else can offer (unless they learn how to read my mind, in which case I'm in serious trouble).
As I said before, though, it's a 1.0 right now - and the extreme memory usage to make it fast seems to be causing problems on machines with less than 128M of memory, so I'm looking into it.
Bottom line, anyone who buys a license before the next version (currently scheduled for July 4) gets upgrades at no additional cost for the lifetime of the application. I think that's quite a deal.