Yeah, I have only been paying attention to new start ups like this for the last year and have already seen a few come and go. I imagine it being very difficult to accrue enough readership to make these endeavors fly. In some ways I think a site like dieselpunks.org or Tor.com is a better way to go. By involving a community directly the creative work is able to ebb and flow organically.
Tome Wilson said:
It's a difficult thing to launch and stay consistent with. Good luck to everyone involved!