There's been speculation that viewership of Lilyhammer is pretty low.
Even for a web series, there does does need to be some motive for people to bother with it, and that description sounds like a lot of cable shows. It just doesn't jump out as something amazing and worth watching, even if I'm already a satisfied Netflix customer (which I am).
People like me aren't the people Netflix needs to worry about - they're already getting my money. They need shows that will make people become first-time subscribers, and if they can't even get current subscribers to watch something, that's not a good sign.
However, it doesn't sound that Netflix is footing the bill by itself, so as long as their investment is minimal, the viewership can be minimal too. It's a first, low-risk step for them.
However, if Netflix wants to produce shows that will make people who are not current subscribers become subscribers - and stop current unhappy subscribers from defecting - they are going to have to come up with more compelling content.