In a post titled "Kindle Bloggers Become Amazon's Bitches," Edward Champion's Reluctant Habits explains exactly why Amazon's recent decision to open the Kindle up to any blogger (with the blogger earning 30% of the profit from their blog appearing on Kindle, and with Amazon determining the blog's price) is not a good idea at all.
Here's some of the post:
Not only do you give Amazon “a nonexclusive, irrevocable, worldwide right and license to distribute” your blogging, but you also give this up to affiliates and independent contractors. So let’s say a major publisher decides to “independently contract” with Amazon. And they see a blog that they like. Well, guess what? They can take your content, publish it as a book, and collect the revenue without paying you a dime. Because Section 4 (”Royalties”) specifies that the blogger only gets paid for “Subscription and Single Issue sales revenues,” meaning any of the 30% revenue that you’re going to get with the Kindle. And I particularly love how Section 5 gives the blogger a mere six months to file a legal claim, which is “limited to a determination of the amount of monies” and not operational practices. You know, trivial concerns such as Amazon distributing your content to affiliates and independent contractors without the blogger’s consent.
You should read the whole thing. It's an awesome post.