As someone who has written a couple of books published through a traditional publisher and paid blog posts for blogs, I didn’t find the traditional methods of compensation all that profitable.
Given that plenty of people write for the sheer joy of getting their ideas out there and the fact relatively few people want to pay for anything on the Internet, I don’t see a way to build a closed system that directly compensates creators in any meaningful way.
Where the real compensation will come from, in my experience, is outside the system. For example, my work, published for all to see in the late 1990s, essentially turned into my resume that allowed me to make a pretty comfortable living in Information Security.
That’s just my take. I would love for the Medium folks to prove me wrong, but I am not optimistic.