My thought was a cross between the two, sort of like WordPress for web sites and blogs. Provide a hosting service like GoDaddy and others, but be focused on PWS owners. Have all of the major templates available for simple deployment, and a standard default one. If someone wants to customize, they have full access to choose/tweak whatever template they choose.
I manage over 150 servers for a living, so there's no major technical challenge for me. Some people are totally lost with setting up and managing their own web hosting, and this would be the target audience. Spinning up another web server on my Amazon AWS account is just a few mouse clicks, and the personal Piwigo image server that I've been running on there since the Photobucket implosion back in July has been 100% rock solid so far. No server room required.
Honestly, I think that the biggest hurdle would be to get the approvals of the various template owners to package up their stuff and make it easy to deploy for each person. I know that Jachym always points at non-commercial restrictions on some data sources, but I don't think that it really applies. Under the WordPress business model, they are a hosting company and not responsible for the content posted by individual users. The same thing could apply to PWS hosting.
The only question is if there would be enough interest and revenue to support itself, especially trying to match WU's $0.00 price tag? Granted, you get what you pay for from them.....