These are wonderful ideas, I'll implement them all and post when I'm done thank you!
Really love the concept by the way!
The content processing could be good, especially if it was to decrease the complexity of the language and simplify the concepts. I would take care that the descriptions could be horribly wrong and misleading.
I would probably look to monetize in a different way:
1. Synchronization of papers across devices.
2. Notes on papers, that could also be shared.
3. A service to find publications of that paper (arXiv isn't always updated with this).
But you're probably better off discussing monetization with the other more intelligent experts here. I'm just a lurker :)