Zines are humble affairs. They're not flashy, polished nor published for profit. I don't think I've heard of a zine that ever broke even. Zines are written because their creator has a passion and he or she wants to share that with others. Nevertheless, zines do cost a bit of money to produce and mail. Loviatar carries a price tag of $3. Of that amount, $2.32 goes toward printing, mailing and PayPal fees. The remaining 68 cents is saved for eventual freelance fees, expanded page counts or perhaps an annual color cover.
While blogs are a wonderful tool for connecting with people who share similar interests, there's an anonymity to the process. It's easy to insult someone from the safety of an avatar with a codename. It's harder to actually sit down, write a letter and drop your anger in the mailbox. Zines are a much more personal and direct way to communicate. You might read and forget a blog post. You're more likely to save a favorite zine for years.
The traditional zine format has been the digest, which usually sports a cardstock cover and is stapled along the spine. Page counts, the means by which the zine is laid out and the methods of printing vary, but creativity and an earnest desire to share and communicate are universal.