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IPv4 smaller than /24 leasing?

On Thu, 04 Jan 2018 17:40:27 -0500, Justin Wilson said:
> I know of dozens, if not hundreds of small ISPs that can�t participate in BGP
> because they don�t have big enough blocks.

What's the business model, if you have less than 120 customers? Selling
value-add services on top of moving the packets? Or just be in a country
where cost-of-everything is so cheap that you can make a profit on 120
customers at $20/mo?

And hundreds?  Is that "in the US", or "worldwide"?
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