The reason for me is twofold: The asterisk, and the lack of product.
The Asterisk: You make it very hard to understand what "Free*" actually means. When you later say "we'll need to take a small portion of revenue..." a lot of red flags go up in mind. What if I want to deploy the product on my own server, where I will take care of the bandwidth and other costs? Will you still give me your product for free, since the only money you asked for was to cover bandwidth?
The Lack of Product: I don't see a demo (tell me if I'm wrong) showing how you have this turnkey "Louie CK model" solution up and running. If you don't have that, that means I'll be your guinea pig as your first customer. If I'm putting a product out there, I'm not willing to chance being a guinea pig because if problems occur (data stolen, server outtages, etc) it's my reputation that will suffer as a result.