I'm not criticizing the quality of the writing, just pointing out that it's not unique and thus not worth paying for.
And then there's the monetary aspect. You can only pay for The Daily on the iPad - even though you can read the content online. It could be argued that there is a reason for that, but I don't see what it is. It's missing out on a lot of potential web app subscribers. After all, there are vastly more PC owners than iPad owners.
My opinion on day 5 is much the same as it was months before the launch. The Daily was conceived and started at the height of the tablet hype. It has the feel that it started with the idea "tablets are cool", and then expanded from there. Unless it gets past that initial hyped viewpoint I don't think it will succeed.