The Blog Network Killer?

The beta version of the Rojo FeedShare service has been released, and I think there are some interesting implications. At its essence, FeedShare harkens back to the old traffic-exchange programs of the early web, with a dash of the ezine co-registration programs mixed in. As Rojo explains it:
You give exposure by displaying “Feed Listings” (see examples) which display the name and description of blogs and other feed publishers. When visitors click on these listings they can then subscribe to the RSS or Atom feed for that blogger or publisher in any one of several feed readers.
You then create a listing for your OWN blog and for every impression you donate to the network on your blog, you will receive a listing on someone else’s blog or in Rojo.com. The goal is to help build the feed subscriber base to your blog, increasing awareness and traffic to your site.
In essence, FeedShare provides some of the cross-promotional opportunities that attract traffic-starved writers to the growing crop of blog networks. While many blog networks offer much more than traffic, they also generally want content ownership, have posting guidelines, and in some cases can even be stifling due to political rivalry with other networks.
The thing to consider here is this: any properly-positioned blogging service provider can create a network that offers this type of promotional opportunity, and will be motivated to do so by the viral exposure (and blog real estate) it receives by facilitating the network. Rojo is smartly doing this, but it may not present a huge challenge to the young blog networks.
But what if Feedburner decided to do this? Or Technorati?
Or Google?
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