Articles like this scare me. I've been working for 8 months full time now on a bootstrapped website for learning vocabulary via reading (http://readlang.com). I've been advised a few times that it's extremely hard to make money with this kind of site but for now I'm ploughing ahead anyway. Reading this gives me pause for thought but as long as I've getting good feedback I'm happy to keep going and see where it might lead.
Even in the worst case though, I hope that I wouldn't ever need to shut down the site, and that it could at least pay for it's hosting costs and be automated to keep running with minimal maintenance.