This is intriguing. I've self-published and I've written with advances from traditional publishing, and I'd take the advance every time. But a hybrid model that offers the prestige, production quality, and distribution of traditional publishing with higher profits but no advance is something I would also be very receptive to.
A New Publisher Promises Authors ‘the Lion’s Share of the Profit’
Authors Equity is tiny but has big industry names behind it. Its founders hope their profit-sharing approach and experience will entice authors.
nytimes.com