I'm curious when the first FC client will allow for monetization, and what it will look like.

A handful of folks I've chatted with lately are drawn to Lens due to the coupling between social & finances. I don't think that's necessarily the right approach, but it's an approach nonetheless.

cma.xyz. Founder /paragraph, ceo /mirror, previously at Google & Coinbase 

Brand Strategy @ Northern Army | Founding Member @ Bankless Consulting. web3 | strategy | org design

Do you think it would be acceptable to collect fees from creators using it?

It’s a great idea. Probably early in terms of audience, but a decentralized alternative to Patreon is needed.