Ask HN: What is so great about Bloomberg Terminal?

From what I understand so far, it's just a portal that gives the news. What I don't get is why have a custom monitor, keyboard? I am not sure how is the network connected, is it a VPN. The cost of the product is ridiculous. I do not understand why are people paying for it. Is there a cheaper alternative that does not require specialised hardware? I know Bloomberg is a politician, has he managed to pass some ridiculous law that forces everyone to pay for his product?

P.S.: I do not understand Finance or the wall street world. But I am curious to know about the tech they use and why they are paying a huge amount for it.