I've lamented the death of ink-on-paper for a while, so this makes me happy. However, $7.99 per issue will be a bit steep to recapture a subscribing or repeat buying audience
The periodic printing provides a pulse to a publication. The idea of a cover story is lost online as new articles churn in every day. It also requires balance and compromises to compose a print issue as different articles compete for space. Print is also archived in libraries and reaches the offline population.
I think the move to online publication is inexorable, but for a generation of editors and writers the print edition is always going to be the "real" publication.
The perceived value issue is very real for media. If a movie goes straight to the video, it isn't valued as a "real" movie so fewer people will pay for it and it won't be eligible for an oscar no matter how good it is. If that movie skips physical media and goes straight to the internet, then it has an even bigger fight for credibility and sales. Sure, you can give stuff away online and get views and likes, but credibility is harder to come by. I'm really not surprised that Newsweak is looking to print again to regain that sense of value.
I think the move to online publication is inexorable, but for a generation of editors and writers the print edition is always going to be the "real" publication.