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Yup, as I suspected it sounds like they've got their own G Suite account (which anybody can set up directly with Google), and they're just selling sub-accounts off of it. This is definitely against the G Suite Terms of Service, so even aside form the fact that they do technically have access to everything in your account, there's also a high risk of Google shutting them down.
As Bill points out, you can go and get your own G Suite account from Google for $5-$10/month per user (depending on the service level you want), which would be the exact same thing these guys are offering, except that you'd be the one managing it, and it would be legit.
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