Now what? What if the newspaper.com URL changes? Am I supposed to keep all my URLs up-to-date (i.e. send pull requests every now and then to update my "bookmarks")?
web.archive.org seems much more useful, by copying the entire page at the time of creating a snapshot and thereby creating a true, durable copy.
Regardless, the point of this system isn't to alias your URLs, it's to alias others' URLs you want to link to. Sort-of like an archive.org that doesn't host content.
In practice you rent a domain name annually, and they get put back in the rental pool not long after the renter stops renewing their lease. Domain-names pointing to content are redistributed all the time when companies go bust or webmasters forget to renew.
Web archive will be of great historical value for futur researchers, but backward compatibility of any service or software rely on developers, not a third party.