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I am interested in it because it is outside the box thinking and it seems to me a good example of relying on a sites content to motivate advertisers to buy ads.
Here is where my mind wandered on this subject. The NY Times in print attracts a known demographic base. You can somewhat impute that the demographics are similiar online. Market sampling can fine tune this if necessary.
The content of the NY Times is first rate. Now you have content and a clear understanding of who the audience is which are essentials for success in the printed media and on TV and Radio. This approach may radically alter how sites sell advertisement in the future.
Here's what I mean. Who uses Yahoo? Everyone. Everyone may not be the greatest (most cost-effective) audience to see your ads if you are selling Jaguars or Tiffany Diamonds or things that are aimed at a niche market.
What do others see, if anything in this session approach?
However, I think that it should be taken a step further. Start the session, not on the main page, but on the first somewhat targetted page the user visits. If the user goes to the business news, there are some companies far more inclined to advertise to that user. If they go to the sports, a different set of products should be offered. The front page can be simple run-of-network ads.