Amazon tried that a few years ago. I tried one book but it drove me nuts having to wait for the next section. Note: this was a one price for the entire book, not pay by the piece.
Note: this is just my personal opinion, but I think most episode writers are just out for the money. Some "series" writers are the same way. They just call their chunks two different things.
Note: I didn't say all because a few writers do know how to do episodes and they usually put it all together when finished for those that want the entire thing.
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