- They're positioning themselves to always compete on price, not offerings.
- It's professionally embarrassing to use a product named "cheap" anything. I have so much trouble recommending namecheap.com to my clients because of this. They're reliable and budget friendly but the word cheap makes them worry about trusting their domain name to them.
- "Cheap" refers to price but it can also refer to quality.
- I'd be surprised if lawyers weren't their #1 market and I can't imagine they'd be comfortable sending their clients to a "cheap" product.
I'm sure they did market research to make it worth using the name. I'd love to hear their take on it.
Who knows, maybe this domain name is only for the initial marketing rollout and the actual product will use a more professional domain name.