iCPC is like CPC, but different. The paid clicks are for internal - not external - links. That is, the clicks are part of a process of engaging with content, not of navigating away to other Web sites (in hopes of finding useful content).
Web advertising is gradually moving from less targeted to more targeted, from less measurable to more measurable, and from intrusive (push) to user-driven, consensual, and welcomed (pull). By monetizing content that's systematically organized in one place, iCPC is part of a natural (and we hope inexorable) migration toward better-integrated user experiences.
iCPC also helps make possible new forms of syndication in which valuable user content and advertising are one and the same. Highly customized content and advertising can be integrated into any Web site or blog, and iCPC revenues can be shared.
We use iCPC as the revenue engine for our collaborative search network for home design products & services. It seems applicable to lots of other markets, as well.