I do see your point though. Making high quality video is very hard. It cost Joss Whedon around $200,000 to make. And Joss Whedon has a cult following, so just having his name on it gave the project a lot of P.R. And Joss Whedon has been involved with Hollywood movies and television shows, so he has the experience necessary to make a high quality show.
I wonder if the entertainment industry is headed to a model comparable to venture capitalism. Media Companies might be forced to split their services into two sections. They would act like a vc firm and give money to producers in exchange for a percent of the gross. And they could sell access to their distribution network. I'm sure that no media company would want to do this willingly though. It would mean giving up control over the ip rights, and they would have to find new distribution methods.
Hulu:http://www.hulu.com/watch/28327/dr-horribles-sing-along-blog...
Wikipedia: http://en.wikipedia.org/wiki/Dr._Horrible%27s_Sing-Along_Blo...