It's pretty cool and all but it's just not for me. I don't really have a lot of time to sit and watch TV but when I do I like to watch multiple episodes of a show at a time, hence why Netflix is perfect for me. Not being able to watch the show daily + not being able to understand a word of it when I do makes it a no-go for me.

Best of luck to the people that go for this. Hopefully it will lead to a wider selection of titles with more viewing options in the future.

Actually there is a reference number. TV Japan's subscription number (from NHK and TV-Tokyo) is pretty much what they need to figure out how many people in North America are willing to pay for the service.
TV Japan provides limited products from Japan, and mostly stuck with news and informative programs from NHK (OK, some drama from TV-Tokyo alright). The company has been around for around for quite a while, and there are increasing voices for something more than just shows from 1 channel.
Toei Channel is able to do that with their wide range programs.
Potential subscriber numbers is already there. Toei doesn't need to worry too much about overcharging those people when TV Japan is asking for a lot more than 20US/month.

I went to their order page and selected the Toei/Japanese package and selected mobile device. Went to cart and it said $0.00 due. And also stated that it's free to watch on mobile. (I'm assuming they mean the app itself is free, not the content.)

You can understand my confusion...

I'm guessing this will be like an On Demand channel? Really, I think if they offer subtitles and maybe have it for about 12.99 or maybe had some sort of promo if you got other channels with it would be worth it. I know that a lot of toku with subs can be downloaded already but if the channel has something more rare or something I may not be interested in I may be inclined to check the shows out just cuz they are right there instantly able to watch and not have to hunt to download and who knows...just may end up liking it.

I also think a good idea would be to have current toku stuff on there too.

I agree with this