tomjadams
I think The Magazine is awesome on a number of levels, but it also comes from a certain viewpoint, one that most traditional publishers cannot embrace without breaking the way they currently do business. Marco has been able to do build himself a new platform with essentially no constraints (aside from his upfront time & money investment obviously), utilising a new business model, a luxury print publishers may not have. He has also been able to build himself the infrastructure required to complete this, this is not expertise most publishing houses have, and he's publishing in HTML, a lot of publishers don't have the tools or expertise to produce HTML content to the quality they're looking for.
The big opportunity here is for publishers to embrace this new medium wholeheartedly, not with their traditional mags/brands, but with new ones built specifically for digital. In my view, publishers & other "traditional" content owners should be funding skunkworks projects that cannibalise their own market before someone else does (something Apple continues to do for example).
A dual pronged approach where they continue to leverage their existing brands, mags, etc. but branch out into newer markets & business models by repurposeing & utilising their existing content is a win-win scenario.