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I haven't read much fan fiction in quite some time; it's hard to dig through to find the good stuff. Part of the problem is that people's definition of "good stuff" varies - I'm not interested in the love lives of the characters.
The copyright holder gets to consent and makes some money on the stories, the fanfic author gets to make some money, and readers get more of the kind of stories they want. Seems like a win all around. Some people are concerned that this would put the squeeze on professionally-written media tie-in books. I don't think they will, I think these will take a middle ground. The professional books will probably be a step above these works, plus a lot of these authorized fanfics will probably be shorter works than the professional books.
I have read some of the Wool fanfic stories, if the stories were praised by Hugh Howie, that was good enough for me. I like the that rights holder can use the ideas in the authorized fanfic in their stories. If I had written a fanfic, and the original author had used one of my ideas, I'd be thrilled.
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