For the record, and even Mr O'Leary agree's. There is no such thing as a low cost airline. low fares yes, low cost no.
So based on the fact that cessna are not offering a deal to blink that would be less than anyone else could get, and the pilots won't cost any less, nor the airport fee's etc... The only way is to squeeze more juice from orange, and have the aircraft fly more hours. If the aircraft fly more hours, then the quality of the product will be reduced. the main attraction of chartering is flexibility, which will be compromised with the increased utilisation that is required to balance the books.......or fly less hours, but put the price up......not low cost then.
Time will tell if the blink business model will be deemed a stroke of genius, or an ill-conceived vision. Either way, 2+2 will always equal 4. If it adds up to anything else, go do your sums again.