It computes to 15c per GB, per month, and there are no other charges - no access or bandwidth or usage charges.
So it's comparable to S3, depending on your usage and request level, which can add up ... and it is quite a bit cheaper than other competitors like Barracuda and so on.
We have large discounts for .edu, teachers, and FOSS contributors/authors, so please do email us if you are interested.
Errr, if you're looking for a fast restoration, Glacier isn't a solution at all, they're intended for completely different use cases.
As the company representative noted, rsync.net charges one simple flat fee, and that alone, no surprises, is itself worth something.
I note that the ability to slot into almost any of my backup systems is very valuable. This excludes Bacula to LTO tape, but you need tape to get tape like behavior and it's pretty cheap not counting the drive and infrastructure (fast disk to avoid "shoe shining"). Currently 2.9 cents per GB for me, and it doesn't take long for that to look good compared to Glacier. Ah, and for those of us on Internet connections with caps and overages, tape is a very good option.