I honestly think it would be easy to monetize; merely a matter of public perception. Consider that it hasn't stopped people from spending on coffins, dirt plots, tombstones, mausoleums, funeral parlors etc. The departed may or may not baulk at the cost, but affected next of kin are easily influenced when thinking of ways to commemorate a loved one. Keep it tasteful and you could easily eke a good profit.

Totally agree. have a quarterly or yearly charge of $30 or something. I would totally do that if someone close to me died. You could offer a way for the site owner to solicit donations if they can't afford it.

Don't forget that people feel that spending more money makes something more valuable.

"Here are your departed, loved-ones memories. Please pay me $30/month to not delete their information."

Not to be an insensitive clod, but this seems to assuage the finality of death...

Time will tell.