I guess that a lot of people are about to find out that producing issue one is fun. Producing issue two is easier and a bit less fun. Producing issues four and on is plain hard work. But somebody will make a success of it. And good luck to them.Oh, so true. Giving anyone access to magazine printing and distribution services does not mean anyone can make a living publishing magazines. There was at one time a similar giddiness about AdSense ("wow! I can make money from my blog!") and eBay ("wow! I can make money selling my junk!"). Only a small percentage of people ultimately figure out how to make a living from the new opportunity.
However the rest of us still benefit, though perhaps in more incremental ways, from the more efficient marketplace that results. Personally I can't wait, assuming MagCloud can take hold, to see the opportunities that emerge for independent designers, illustrators, writers, photographers et al. (Pixish provides an early glimpse of that future, I think.)