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The thing is, in order to make a blog really pay, you need to spend a lot of time promoting it.
I had a blog for a few years where I wrote reviews of games. I never really made any money off of it, other than a few review copies of games.
But then a while ago, I gave it up and started writing for another blog for money. The owner of the site spends all his time promoting it (and sellings ads and such) and pays the people who actually write the content for it.
I'm not saying your idea wouldn't work, but the indie author is already hard pressed to find time to write just from having to edit and format their books, much less constantly promote it.
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