VCs are only interested monetizing the "product" aspect of creative ventures so they rephrase the key concepts in MBA blandspeak.
This doesn't apply to webnovels. There are people there making over $1000 a month (some over $15 000) publishing completely free webnovels.
I don't consider authors of web novels or serials with Patreons like Wild bow or ErraticErrata to be representative of the broader population of authors on places such as Royal Road. I'd assume the total income distribution of web novel authors to be fairly top heavy.
As always in the creative industry, the earnings are on a steeply descending exponential curve. But people still make good money out of a couple of hundreds fans.
"Starts with the user's needs and pain points - motivated by self-interest - desire for improvement, transformation and/or exclusive access"
So, you need to get fit/get in shape! $40/month for my nutrition and exercise coaching! Go green and zero-waste with my advice! How to teach your kids! Yoga and meditation to improve your health! How to pick up women! Break into your dream career/TV writing/comedy! Be your own boss! Etc, etc. Some needs are never satiated.
The only thing new about this is that it's happening online; offering courses for $1000 is not exactly a new thing, it's a business that has existed for ever.
And I'm pretty sure that most of these customers aren't long-time fans. People will pay for access to a course, but they aren't going to take the course over and over again.