My big concern is they get swamped with gaming-the-system hustle porn, vapid business advice, articles about coding, etc. They need to find a way to minimise it and "elevate" fiction, as you say (though I think this site would be good for poetry, creative non-fiction, and other non-fiction of significant value such as personal essays or autobiographies, provided fiction is the primary element).

We'll see how it works out. I'm giving it a go.