Google has an internal version of this called GVC and it is hands down better than any other system I've used. The interface is easy and intuitive to use, and being able to screenshare/present is as simple as visiting a URL. No installation of anything needed on the part of attendees.
Hangouts also allows widespread distribution, so for example, with the GWT team's weekly meetings, we have sometimes recorded them, or broadcast them live, and even invited external participants to watch and field questions.
You can also do things like run Hangouts Apps (Web Version), that lets people collaborate on documents while having the meeting. We do this with design docs or spreadsheets used for planning so that everyone on the video can edit what we are all watching get presented.
Those complaining about the price are speaking from the standpoint of consumers. For someone running a non-trivial business, paying $1000 to get customer support is worth the trouble.
If Google weren't making any margin on this, then you'd have to worry about it going away at some point. If you want a healthy assurance that it's going to stick around, pay b2b rates.