Genii scratches that monthly itch for me, and it delivers a wealth of surprises: unexpected feature articles, thoughtful performance material developed at length from multiple big names (Da Ortiz, Steinmeyer, Maven, Giobbi, Stone, etc), excellent historical explorations, additional tricks in Magicana, valuable review columns, etc. There's even some friendly and personable chatter from that guy who edits it, as compared to Mysterious Silence from the RS Powers That Be.
Genii is a monthly surprise smorgasbord at 1/3 the price of Real Secrets. That leaves me $100 to buy multiple hardcover magic books, or a year's membership to the Conjuring Arts Research Center with its wealth of information and Gibiciere, or even to try out El Manuscrito. And in my estimation, those other publishing projects do far more to support the well-being of magic as a field than does Real Secrets.
I'm also not a single-trick-buying guy, and that may be part of my beef with Real Secrets. Had they disclosed that they were mailing out only a single (tersely described, underdeveloped, barely-credited) item each month, I likely would not have joined, and their customer base would've been that much more in accord with their offerings.