Vellum has an option where you can pay by the book or you can pay a one time fee. Think of it as paying someone to format your book and that makes the sales model a little more understandable. (Having said that, I bought the unlimited version.)
The main thing it does that Scrivener or Calibre don't is to add some significant graphic design elements. There are decorative section breaks instead of the centered ***. You can do small caps or a different font as the first line in a new scene/chapter. There are decorative chapter heads with graphics. And the graphics work when someone is reading on a device and has it set to amber or reversed.
What it doesn't do is allow you unfettered ability to adjust the book every which way and that drives some tinkerers crazy, but IMHO there's a lot of ugly books out there that are ugly by intent because the authors don't really know typography. Vellum's pre-made options pretty much guarantee that you can't screw it up and they look great.
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