This is awesome.

People who want porn get porn. People who want money (ie Justin.tv) get money.

Unfortunately, there are definitely issues.

Some 8-year-old kid is going to search for the awesome new channel about secant that everyone in 3rd grade is talking about. Since the c is next to the x, he's going to accidentally type "sex" instead of "sec". 5 seconds later, he says "mommy, what is that?", and 10 seconds later Justin.tv has a very, very angry parent on their hands.

Ok, maybe that's a little unrealistic. But people are going to complain about it.