However, the idea of producing web related content seems sound if you can look into server-side fontend/backend stuff. What I have in mind for example is the whole server-side apache ecosystem for cloud computing (infrastructure like hadoop but also more application oriented projects like mahout). Node.js is also a nice example, just like twisted and some of the many python (pick your favorite language) web frameworks.
Yes, producing high quality content in these areas would be costly but I can see a fairly large potential reader base. Reaching this user base will be hard because it will be challenging to reproduce the lwn model of writers who are part of the community, but hey, this is what makes life fun and interesting :)
Bah, this post is longer than I intended to. I wish lwn good luck!