You're assuming that the initial subscription will have a cost. Offering a free subscription (for a month, year, whatever) may bring in enough people. It then becomes a issue of retention when it comes to charging. He may even initially charge a small amount (less than the price of a paper edition) and scale it up slowly.
Who says it has to be profitable immediately?
The Psion Netbook is ARM
I also have a Psion Netbook and have been using mine every day for years. What it lacks in connectivity it makes up for in speed, battery life and applications that do what they should and carry no bloat. The Agenda is still the best calendar app I've used. For example, you can create an entry and then add a (Psion) Word document containing information about the entry, including images, etc.
It turns on instantly. That alone puts it above any of the subnotebooks that are currently calling themselves netbooks. You can pop the CF cards in and out without causing the OS any confusion. You can even get a Windows like front end.
Wireless network cards can be got from eBay without too much difficulty (I've got a couple). You normally get an RS232 cable with the Netbook but it's easier to copy all of the files on the C: drive to a CF card and then copy the CF card to a PC.
Oh, and infrared works fine here - can use it to connect to the internet through my mobile phone and send and receive files.
And the Psion 5 (or 5MX) is completely compatible with these, so you can carry all of this around in your pocket if you don't want to lug around the Netbook.
Stunning machine at the time, still brilliant now (if you accept it's limitations) and a name well worth defending IMHO.