So if we take the Netflix for News analogy literally, it will include certain classes of popular content, publications will go in and out of being offered through the service, it may pay a premium for some prestige sources in the vein of popular movies, but by and large the WSJs, New York Times, Washington Post, etc. won't be included.

It might still be useful if you could get a wide range of publications other than the big ones. But then I suspect that you'd be hard put to get $10-$20/month out of people for a subscription that doesn't include the paywalled pubs that are usually posted here.