Heh, the title of this opportunity is "The Death of Adsense". Obviously PayPerPost has high projections for its effect on Adsense - hence the $3 million, I guess. I think personally that PayPerPost and Adsense can exist quite nicely together, although with PayPerPost you can control whether you make any money, and with Adsense all you can do is increase traffic. However, the argument really depends on whether you are a small blogger or a large blogger. I don't think PayPerPost adequately compensates extremely large blogs for the HUGE amount of traffic they get - the same advertising, if they bought a sidebar ad or something, would cost hundreds of dollars and yet they get $5 or something. So PayPerPost is really only appealing to the small bloggers just trying to
make money off their blogs in whatever way they can. Unfortunately, that's kind of shooting themselves in the foot - if you really want eyeballs, you are going to have to pay a LOT more for it - and Adsense does. I wouldn't be surprised if at some point PayPerPost put in some kind of staggered payment system depending on the volume of your traffic; that would really make a lot more sense.