Abhishek Anand, you raised interesting points. And I would like to comment one of them: the monetization.
“What I don’t understand is the urgency behind it.”
I don’t understand how you can’t see any urgency. For me, this is a big problem in tech today. How can you possibly raise hundreds of millions without making any money, or at least having a pretty clear plan towards the business model? I’m not saying Medium doesn’t have a business model that is planned. Maybe they are just waiting for something specific (a certain amount of users, a new feature…) before they can roll out their business model. But I have serious doubts though. I hope I’m wrong and that they have a scalable business model coming.
Though, where I agree with you is when you say that they seem to have rushed to now make money, and that they try to make money the wrong way.