Seth Godin makes his living by giving advice to others, rather than acting on it himself. I think it's better to solicit advice from the people who have succeeded in what you are trying to do.
Godin sold his startup to Yahoo. He is now 'acting on it with his bootstrapped 'user generated content'-startup Squidoo. I doubt as a millionaire he needs the revenue from his books and speaking gigs to make a living.
That's kind of the point. If you want to know what it takes to eke out a living from your web project, it's good to ask other people eking out a living from their web projects, rather than a very talented marketing guru who is a couple of decades removed from having to worry about that class of problem.