The C4 press release comparing it to The Big Breakfast and TFI Friday seems a bit optimistic. Agree with Switched On a different co-host each week does seem very much like a gimmick - surely there is one reasonable presenter they can convince to live in Leeds. Or Chris Moyles.
I think this is destined for early afternoon IIRC, though I do think they should get back into the chat market at 5pm considering they can't compete with The Chase and Pointless with game show formats.
Also don't think this is too much of a coup for C4 or a loss to Breakfast. Yes, she's a familar part of the team but I don't think she's bringing in a huge fanbase. Just seems to me like C4 needed a Northern presenter for a Northern based show and it'll probably work for both of them, in the short term at least. Even if it only lasts a year Steph wasn't going to be reading business news on Breakfast all her life anyway.
It's great that everybody gets sarcasm.