I particularly liked this part:
The mass-media magazine business model is what is broken, not the magazine format. For instance, magazine readership is up over the past eight years— which I think is pretty good for a dead medium. And technology has radically changed magazines over the past 20 years: it has enabled my company to compete on a level field with any magazine publisher in American in terms of design and production tools, access to collaborative tools and a myriad of other mundane things. And, as I pointed out the other days, technology is changing the economics of the production and distribution of magazines.
Not too unlike my own comments on the matter (here and here and here even here). Give us a quality magazine and we'll pay for it. And we do.