Kramodlog
Naked and living in a barrel
Definitely more work for WotC.
That's the argument, at least from my point of view, of applying an OGL-like license to the Basic Rules rather than the PHB. If you create an SRD (a la 3e), you've now got 3 very similar documents to update and maintain - the Basic Rules, the PHB rules, and the SRD. They couldn't maintain the 3e SRD; I don't think they'll maintain a 5e SRD AND the Basic Rules AND the full rules.
It also explains why there isn't any SRD for 5e presently. With a such a small team working on D&D, diverting resources toward a product that will rake in literally zero dollars is not worth it. At least, if you do not consider that 3PP support helps your edition. The SRD is on the back burner or a side projet when someone (Trevor Kidd?) as the time to put some work in it. Thus the "we do not know th release date" line. Officially, jury duty delayed the release of the 6 page PDF that contained the Warforged. Imagine something with a lot more pages and hyperlinks.
Of course, things could have change at WotC/hasbro since Mearls' tweet and the OGL is not a seen as a good thing anymore.