What we (ImpactAlpha) as publishers on Medium really want is paywall capabilities for our own subscription efforts. Then we’d be in a position to do a rev-sharing deal with Medium based on traffic, etc. The model you’re describing sounds like publishers will instead subsume their efforts to Medium’s subscription service and deliver their editorial efforts as cheap content for Medium’s pub. That may work for self-publishing authors (depending on the rev-share formula, which is not detailed), but not for publications trying to build their own communities and brands. This seems more of a reversion on the Facebook model Medium was intended to counter (subbing subscriptions for ad revenues), rather than the alternative publishing platform we all thought you had set out to build. Let’s keep talking. I’d be happy to be wrong!