The internet is changing. Subscription is the model of the future. This is a smart way to do it though, it puts the decision in the hands of the channels to deflect some of the anger. It will be interesting to see people move youtube videos behind paywalls to other spots on youtube that aren't behind paywalls.
Who knows? Maybe one day they'll fix their shitawful copyright detection program. But probably not.
This could be really awesome. This is precisely the reason why paying for television sucks; you have to pay for a huge package that includes tons of channels that you simply don't want. If I could just pay for IFC, Comedy Central, Current TV, maybe a couple others, I would ecstatic. Now what would really take it to the next level would be channels additionally having a live stream that acts more like a traditional TV station.