For whom? When? There are decent applications for this, some of them even free.
I've seen fantastic fansubbing work, with beautifully rendered, animated subtitles; and that was already years ago.
Making basic SRT's is easily accomplished in a rudimentary program like the old Subtitle Workshop by URUSoft: http://subworkshop.sourceforge.net/
(Looks like those guy have been active lately and have some new stuff out: http://www.uruworks.net/index.html )
Burning subs into a video is easily done with a ffmpeg one-liner (using its "libass" renderer or whatever). (Someone nontechnical may need help putting together that oneliner, but after that it's just repetition.) It's generally a bad idea; don't hard sub if you can avoid it and make the video available without the hard subs.
A few bugs I encountered:
1. The Blog and My Account links in the footer either 404 or do nothing.
2. On the subtitle editor page, I scratched my head a bit trying to figure where to type the subtitle. It'll help if you make the input text field look editable with a blinking cursor, pen icon, etc.
3. When I uploaded a 460x460 video to the subtitle editor, the subtitle options on the left overflowed the webpage and were not scrollable.
4. The command line output log that is displayed when the video is being processed post edit is TMI and could confuse a lay user.
Hope this helps.
I've used Aegisub to do dramas and music video translations before.
Which brings me to the inevitable feature request: more colours and stroking the text.
Every subbing job I've been involved in I've used yellow text with a black stroke because it's visible on any light or dark background without issue.
A low res example here: http://www.smh.com.au/content/dam/images/x/w/5/h/image.relat...
I've never needed to subtitle a video so I don't really know who your competitors might be but none of the links posted so far in this thread (except for yours) seem to be very easy or intuitive to use.
I love your logo character too!
I'm not going to upload footage to a site to make subs.
There is no shortage of subtitling tools that run locally on your PC and just open the video.
So yes, there are alternatives, but we believe that our product is much easier to use.
As for the CPU usage - it is quite intensive so we set up a Linode instance dedicated to processing the videos. It costs us $80 a month, but Linode throttles it automatically. That's nice because if a lot of videos are being created, it just means that they get created slower for everyone. But they don't fail.