I worked on it for about 2 months full-time two years ago, but this was after a burn-out where I really needed to rediscover my joy in programming, which I did through this project so I got a lot of value out of it already in a way :-) Since then I've worked on it on the odd Sunday every once in a while, not all that much really.
While it's an interesting prototype right now, actually finishing it will be quite a lot more work as there are some technical challenges remaining in the way I want to do things. Half a year at least, but let's round that up to 10 months because I'm probably underestimating things. If we consider a monthly salary of €3,000 (pretty low for a senior dev) then I'll spend €36k on building the thing, a further €36k building up revenue, so it'll me 6 years to recoup this investment with €1,000/month. In short, I don't think €1,000/month is very high at all.
And this doesn't account for any marketing or other costs. Actually building a platform is one thing, but getting useful content (in this case, recipes) is another. Simply copying existing content would be pointless, so this requires further investment.
Of course, the "start-up way" to do this is to find some investor who will give you money, but that investor will expect a return on their investment (which is reasonable enough) and it means I will need to maximize profit and it'll be like all the other sites that I mentioned before. What I really want is a site built by someone who likes cooking for other people who like cooking. I think the world would be better if it's easier to build something like this while still earning a reasonable amount of money (and €1,000 is very much on the low end of that IMO).
As for "being a commodity", sure. But in my opinion a lot of them aren't very good for various reasons, and I think it can be a lot better.