These keys are typically "greymarket" keys, that violate Microsoft's terms of use. That means that the key may work for a day, a month, or a year, but can be deactivated by Microsoft at any point in time. These sellers are selling Volume License Keys (VLKs), which are used for larger corporations, to avoid putting in multiple keys for every computer. These VLKs are often sold as a bulk discount rate, too, which is why the prices are so much lower. MSRP pricing for this software is $439.99.
This is for 1 PC so unless that PC lasts you a lifetime, this is not a lifetime license. I asked their support and they confirmed. For 1 computer. If you upgrade to a new PC, you don't have office anymore!
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Thank you!