Wall Street Journal for iPad Daily Issue Price $1.99. Too High?

The Wall Street Journal updated their free iPad app and introuduced in-app purchases for single issues of the newspaper.
The Wall Street Journal 3.5 (iTunes App Store)
At $1.99 per daily issue, it probably the most expensive general circulation periodical in the form of an iPad app ($10 per week). It may be the only periodical that can charge such a relatively high rate and maintain a significant customer base. The Daily has probably set the standard for daily periodical pricing at 99 cents per week or $39.99 per year. That said, it does not make a lot of sense to compare the content of The Daily with the content of the Wall Street Journal. They are focused on different market segments.
Current WSJ online subscriberes can use their username and password to get full content access in the iPad app for an unspecified “limited time.” The WSJ.com bundle is priced at $3.99 per week for web access and digital app access. Note that this is quite a bit less expensive than the daily content for the iPad alone.
At $40 for a full month of daily issues, the WSJ will probably reach its current audience and a wider audience on days of significant financial news. However, I doubt if the WSJ’s reach will extend to a more general audience at that price.