The question is how else to price an essay like no by a word-count. From what I know professors ask students to write a X-page paper (or Y words) on a topic. Due to different fonts/margin settings professors now tend to use word-count rather than page-count.
If buyers are smart they should look at how many words per page a company offers and then order less pages (and pay less with companies that offer more words per page). That's a general idea, but different companies have different pricing structure. Rush or regular order is an important factor here too.