Noted: It's a Mad Mad Mad Mad (Kindle) World

I've seen a good deal of reaction over the last couple of days to Amazon's announcement of its "Kindle Worlds" program in which it aims to solicit and publish licensed (!) fanfiction set in a handful of franchise universes.  Both the fanfic world and certain corners of the professional writing community are rising up in mutual astonishment, mostly to point out the holes in Amazon's logic.

At the same time, both the fans and the pros seem cautiously convinced that the program is actually going to work -- that is, that people are actually going to make money on the deal.

I'm not.  I think the odds are against anyone -- writer, licensor, Amazon -- turning a significant profit on the venture.  ( Let me explain.... )