The content seems pretty good to me. Sort of like travel channel/pbs/food network mash up. It doesn't have enough at the moment to keep me locked in though and it is certainly too buggy for primetime.
I think the thing is that their content is more fad-ish in nature. What I mean by that is that people find it interesting but their lack of variety and content makes the channel seem tired after a while.
It's like the old show Lifestyles of the Rich and Famous. The show was great, once a week. I wouldn't want to watch it all the time however. I certainly wouldn't want to subscribe to a premium channel for it. It's the type of programing that needs to be with a larger channel that deals with other lifestyle topics as well such as gardening, house hunters, architecture etc..
They need to license their content to Hulu, share ad revenue, and be done with it. That's my two cents for you. However we all have different tastes.