Hostility towards the people they cover instead of the people they're writing for. At the core of it, that's the problem. All the mistrust, scepticism and contempt that a journalist in any other field would normally direct to these massive corporations is instead directed at their readers.
The big worry with console horror games is that the genre is not mass market friendly, so there's the ever-present danger of any new title following the trajectory of Dead Space 3 for as long as it costs so much to make these games. The real hope, I think, is in the friendliness of the consoles to indies. Just look at Steam Greenlight - it's brimming with indie horror games now. Some of these might be good and make the transition!
And hey - you can facecam when you're streaming on the new boxes, right? The next generation of PewDiePies is basically right around the corner. That's scary.
I don't see any downside to this collaboration (yet). But both men may just be putting their name on it - having done such things before - so I'll wait for some actual gameplay footage before moving to cautious optimism.