Apple and subscriptions

Apple launches long-awaited subscriptions for App Store (Macworld)

Seems to me that this is a pretty fair model for subscriptions. And yet, I keep seeing articles and blog posts claiming this will be “the death of Pandora” and other crap like that, due to Apple taking 30% of the revenue, and the publishers can’t afford that. As I read it, publishers have two options: in-app subscription purchases with 30% to Apple, and outside-the-app (e.g., on their website) subscriptions at 0% to Apple. The agreement is that they have to offer the in-app subscription at a price no higher than the outside subscription, but I don’t see anything that says they must provide an in-app subscription option at all.

Apple’s position appears to be, “If we help you make sales, we want a piece of the action; but if you do it, it’s all yours” — which seems pretty fair to me. (The guy at the newsstand certainly didn’t sell me my copy of Bicycle Times as a volunteer this morning…)

Am I missing something obvious?