One thing that makes this hard in reality is that ANY service where people have to pay means people have to SHOP. Which means they have to make decisions about what entertainment products to buy, and at what price. And since these are "experience goods" you can't judge them until you've paid for them. In my book, that means means this particular type of "shopping" REALLY sucks.
So the fact that "shopping-just-sucks" (and especially for experience goods) is the TRUE friction that any hypothetical as-easy-as-Megaupload services need to overcome. A big draw of Megaupload (I say this never having heard of it before this week) is you can consume whatever you want and there's no downside to a bad choice.
So I'm not sure how any alternative service avoids the Shopping For Entertainment Products Sucks Syndrome unless they get some reasonably-priced all-you-can-eat plan that makes a lot (80%?) of commercial content available under one roof.