Tumblr daily pageviews: 500m; Posterous daily pageviews: 1m
Posterous would never be a billion dollar service, but it could be the type of service that generates $10m+ in annual profit.
100 servers from a competent host + bandwidth via a pooling deal = less than $50,000 per month. It wouldn't be sexy, but it'd hold.
I wouldn't keep the current Posterous business model of chasing Tumblr into a pool of red ink. I'd place a bet that users will pay for a service that will stick around. It would reduce usage, but there's a large base to monetize that would be willing to stick around.