Sorry but either be a top businessman then relax/work as you travel, or be a professional pilot and relax when you're waiting for your passengers.
I feel the gist of the business proposal is to provide a no-frills corporate jet service. This means (or is meant to mean) that top business people are not the intended target. I assume, anybody who wants to get from A to B quickly(ish) without as much fuss would be interested in the service. Therefore, I think this is viable so long as you can afford not to fill all the seats all the time. The stated variable cost to the passenger is a bad idea (the idea that the fuller to plane the cheaper your seat) when a lone traveller has no control over the ability for the airline to fill the other seats.
Cloud cuckoo land? Not sure. Risky, yes. Even if it does succeed it probably won't be the pioneers who make it, but the big corporations will make it work. But then again, probably to sole purpose of these kind of start-ups is to be bought out for decent money.
Could also introduce a new bottom rung to the pilot career ladder which would not be a bad thing.
Just some assumptious thoughts,
HWD.