Newsstand also includes background downloading, issue management and an issues list. Some sort of library is also needed, so users can see what they have downloaded and what is on the device. Most indie developers I know struggle with these things if they don't use a pre-packaged publishing suite, like Adobe Digital Publishing or Magster.
Most Newsstand apps are made by larger media companies because they have the money to make them. Indie developers aren't on Newsstand too much right now because we can't figure it out. My own magazine is just an app for the iPad without Newsstand support, and I know a lot of other magazines masquerading as apps when they really should be in Newsstand.
I think if you were to simplify things you would find a large market. Almost every magazine I've seen handles Newsstand the same way, its very standardized, which is perfect for you guys. Despite being standard, the code is frustratingly complex and difficult to implement. You might not see it now because the people that publish magazines aren't necessarily the coders you talk with every day. But small publishers, indie e-zine publishers and other periodical publishers (online and off) know the future is on places like the iPad, they just can't find someone experienced enough to code it from scratch for a low price. They live in a print or online world and iOS developing is a black box.
