Thanks for noticing that - I was still thinking about the Kindle deal.
Do you mean it doesn't work on your reader or that you have to download it from the desktop and don't get it directly? I'm not really familiar with the Kobo reader but it sounds like it is supposed to work on it:
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Now you can read newspapers and magazines on your Kobo Wireless eReader, or Apple iPhone or iPad. Get started with free trial subscriptions to many popular titles and see how easy it is to go digital with your morning newspaper or favourite monthly magazine.
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Automatically delivered to your iPad, iPhone or Kobo eReader.
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Well, as for web version free vs paying for the reader version I think it's like anything else - a matter of convenience. You can take it with you and read it wherever or whenever you want and not to have to sit at your computer and read it. lol