It feels like you're just charging for a paywall and a mailchimp list... maybe thats enough, but given the amount of failures in the space, it feels like just another to go on top of the pile. Maybe its the right mix, and they have some big plans?
One issue from the Terms - if you post something publicly, they can keep it published and licensed to them forever, even after you delete your account. I'd think for such a high price, and a high emphasis on content creator control, you'd not take away the legal rights to delete public posts.
Also pretty disappointed at the arbitration agreement and unilateral terms of use updates (they can update them at any time, and if you don't agree you will be kicked off the platform).
[edit: its certainly easy to see the value of something like this existing - just trying to understand why this is different than the others]