The pleasures of reading plot-driven books are often increased by such periodicity of encounter. During the Harry Potter Years I took delight in the periods between books when we fans could speculate about what was coming next. Conversely, when I recently read the massive cartoon epic Bone I found it thoroughly mediocre — but then suspected that I would have enjoyed it a good deal more if I had read it in its original installments and therefore had that time for speculation. So maybe the Daily Lit can exploit those pleasures.
Only for plot-driven books, though. Character studies require something more like immersion in their intellectual environment. Can you imagine trying to read Mrs. Dalloway at the rate of a few pages a week?