It is a business model that worked then so why not? Also, here's a thought sparked by Darkwing's comments. It is true that dvd's are a dying media, much like real paper based books (much to my old fashioned chagrin) are being made extinct by e-readers. But here's an idea....why not make a mobile game from the Paunk Show??? Find someone to create an iPhone, iPad, Droid, FaceBook, game of it. Sell it for 99 cents, make it free and do ad placement, etc. You may find that that is a faster path to financial success than a more traditional route. If you're interested, a gal I work with loves to make mobile game apps, almost for fun, I can put you in touch with her.
In truth, the mobile app path excites me more than anything else does. It's the trend, and your shorts are a perfect tie in. You have a growing following for them already, the games the next step. Think about it....