Maybe. But would you rather pay $99/year for a service, or $0/year for the same service?
That's the bottom line. If I want calendar syncing, I'm going to get the most functional package I can find for the cheapest I have to pay. I'm not paying money to Apple simply because it's Apple.
Now, yes, Mobile Me offers a lot more than calendars, and maybe that's worth the $99 to some people. But for me, for the services they offer, it's just not worth the price point given the numerous free alternatives available.
You can buy it on Amazon for around 60 bucks.