I do not think that word means what you think it means.
It's a legal term to describe somebody getting money through abuse of their authority (e.g. requiring bribes under threat of prosecution) or charging illegal interest rates (e.g. usury). It doesn't mean "setting your prices too high but your customers can leave". Because, if it were extortion, SupportBee wouldn't be able simply to remove the widget and end the problem.
It's a legal term to describe somebody getting money through abuse of their authority (e.g. requiring bribes under threat of prosecution) or charging illegal interest rates (e.g. usury). It doesn't mean "setting your prices too high but your customers can leave". Because, if it were extortion, SupportBee wouldn't be able simply to remove the widget and end the problem.