This has happened in at least one media segment: podcasting. Ads are simply inserted in the medium proper, or the feed gets paywalled, or money is generated while producing the content (live shows).

It is entirely possible to reproduce this achievement in other media sectors, it just needs to be done wisely:

1. a catchy name ("rss" or "atom" are too geeky, "feeds" or "syndication" are too generic, "newscasting" is another thing).

2. leave clients and formats independent, so the immediate needs of users prevail over broadcasters' ones. Broadcasters are good at telling people what to think, but terrible at telling them how to use or consume anything. It also removes the petty fighting like "we won't rely on a platform built by $competitor".

3. Leave ad-management and general money-making schemes up to publishers. They can license feeds to specific clients only, they can do paywalls, micropayments, embedded ads, whatever. The client should assume nothing, simply move content from A to B on a schedule. All this can easily be implemented on HTTP codes, they are all there already.

4. The real point of feeds is exactly this: move stuff from A to B on a schedule. Metadata is almost irrelevant. Content display is a side-show. What podcasting delivers is control: it gets the content a user wants, as soon as it's available, and makes it ready to be consumed when the user needs it, in the way s/he prefers. This concept is what should move the effort, not dreams of semantic sheeps.

5. Because it optimizes pre-fetching, the format shines where on-demand fetching is time or money-expensive. Niches where it would (or does already) work well, ae things like auto-downloading TV episodes, delivering big images (something for visual artists to cut off Pixiv and friends... ?), delivering big binary updates and so on. With the rise of single-page-applications, one could even devise a format that delivers an entire website, ready to be consumed instantaneously without requiring lots of mobile data usage. Bootstrapping it in "stingy" markets (Southern EMEA etc) could help.

6. Good directories for clients to use. Podcasting really took fire when good directories emerged.

(on a sidenote: AMP is evil and publishers are shooting themselves in the foot. It seriosly risks to become an "iTunes" moment, where an entire industry relinquishes control of their market because they don't understand long-term consequences.)