I would think this would be the intelligent route and would be surprised if most big affiliates weren't already doing this (not including testing new programs and the like). In mainstream this is commonly how things work.
Its a double bladed sword for mid level guys and those just starting in the adult arena for themselves. On one hand, a lot of competition should get cleaned out, on the other, you'll need to have the skill and capital to survive your climb up the ladder and while building your traffic bases up.
At least if you can make it up that ladder, the rewards will be sweeter (bigger % and bigger share of sales, more influence with programs?).
I think this is the best route for the industry to go, to be honest. I just hope in 1-2 years I'm among the affiliates in that position, not with those washed out with the tide.
