It's a good strategy to get all your content written for what is likely to be basically nothing. I knew someone who signed up with Examiner.com and she got paid $1.00 per article and a few pennies here and there for the ads that showed on the ads. She was a retired TV/Print journalist and quickly gave it up after not earning anything and getting chewed out by one of the "crowd sourcers" or whatever the managers are called for something or other.
I think some of the About.com people actually do make something but then there are not 400,000 of them. It sounds like YAHOO! is aiming to becomes the largest broker of content out there.