How can Shopify have a market cap of 50B when the whole market for website builders is worth about 2.3B?

It seems that the global website builders market size is is expected to be worth USD 2.7B by 2026 and USD 3.5B by 2032.

I know Shopify has other stuff like payment processing and what not. However, their main thing is a website builder. Their revenue was USD 2.93B in 2020.

OF course one would expect some inaccuracy in estimations, but how can a company have an evaluation almost 25x its main market size?

What am I missing here ?