I bet a lot of people (mostly business(wo)men) would be willing to pay through the nose for a subscription service where:
a) You can just turn up and fly
b) You get true first-class service and food (à la Pan Am in its heyday), not what they pass off as first-class these days
c) Comfortable chairs with lots of legroom (they're most of the way there on this right now with first-class)
d) "Volume" subscriptions (just like with software) available for large companies
e) Relaxed luggage size/weight requirements
f) Good wifi and cell phone service (support for all major carriers) on-board
g) No children allowed
h) Frequent departures, using small planes
i) You don't have to go through all the TSA crap, both the screening as well as restrictions on what you can bring on-board
j) No silly restrictions on electronic device usage, including during takeoff and landing
The last two would obviously be near impossible thanks to the government, but the others are definitely doable.