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For a landing page, this is pretty bad unless you're getting a ton of irrelevant traffic from press or other distribution channels.

Hard to imagine what 99.5% of the traffic is doing on the website.

I would have thought businesses are most likely to use a SaaS product.

Is Netflix considered SaaS? Perhaps my mental definition is way off on scope of SaaS. Honest question, not trying to be sarcastic

Netflix isn't really a SaaS because it's not providing "software" (the first "S" in SaaS)-- it's providing content.

On the other hand, Google Calendar, Gmail, etc are providing software and would probably be considered SaaS products. You're providing the content and Google is providing the means of managing it.

Especially since this appears to be the full funnel, from visit to paying, this is not bad at all.