I think Chris is banking on the idea that with over 3 million pages, if even a tiny fraction of them rank well, there will still be some money in it. There also wont be as much competition as there is for AWS. Looks like a nice network :)
I just wonder how Google will take this. How is it set up? Are the sites being served over a few different IP addresses?
(BTW, Some of the categories in your diet food shop aren't working)