Another nail in the coffin of subscription book reading

Electric Literature reports:

http://electricliterature.com/scribd-puts-another-nail-in-the-coffin-of-netflix-for-books/

We’ve written previously about Scribd and the challenges of the ebook subscription model. Electric Lit reports that Scribd will more-or-less gut the service by imposing hard-to-understand limits on how much you can read on the service. It’s challenging enough to make an economic rationale for Scribd, in it’s current form (as I wrote here). This will make it near-impossible.

http://electricliterature.com/scribd-puts-another-nail-in-the-coffin-of-netflix-for-books/

I think it’s the endgame, until the publishers see this model as a benefit and revenue source, rather than as something to be tolerated.

What do you think?