What you don't have.
If you have content and a paysite, then traffic is your king. Well actually it's not. It's getting joins.
If you have traffic, content is your king. Because you have to send it to a guy with content. Without him and his content making joins, you don't have much. Even if you're selling ads or traffic. You need the guy with content, whose getting joins to give you money so you can eat.
Yes anyone can get content, anyone can get traffic. The key is getting joins at less than the cost of getting the content and the traffic.
Ultimately everyone's king is $$$$$$$$$s and the more the merrier.
I know people with so much traffic, who can't get a sign up. And me with so much content and I can't get a join, in fact only run my sites at a loss to help out Phatservers pay their bills.
So ultimately everyone's king in business is money.