It's a great evergreen starter project, but probably not a sustainable business. A year or two later I watched an episode of Calacanis' TWIST where he gave feedback to another group attempting it and I think he articulated the main problem well. Something along the lines of "the beach is crowded, the water dirty…" In short, it's a never ending job, with lots of competitors and little return. Have to compete as well with places like reddit/facebook where the hard work is outsourced. Hard to get a community built just on that when most people don't look for things to do constantly.
That said if done right it would be valuable, maybe if publicly subsidized somehow.
(My old domain kpasa is probably available on the cheap, I liked the name. Don't know what airovic is or means. :-)