I had a eureka moment listening to Jonathan MacDonald last week at Forum Oxford. I don't think he intended it but it happened all the same. I suddenly realised that I had previously viewed Blyk through traditional telco eyes when the trick is to think of it in completely different terms.
You see, I now realise that it is not an MVNO at all. The telecom elements of the proposition are only a hook to hang the proposition on and not the proposition itself. The proposition is actually a discount or coupons club for people of a similar interests - and crucially I think - a particular segment of people who do not like to be missing out on what others are getting.
The first post I wrote on Blyk was quite negative, focusing on the lack of success of MVNOs around the world, the complications of the proposition and a few other sundries for good luck. I am pretty sure now that I was wrong.