This is false. If all they did was host pdfs everyone would just use arxiv. See http://www.nature.com/news/open-access-the-true-cost-of-science-publishing-1.12

This is false. If all they did was host pdfs everyone would just use arxiv. See http://www.nature.com/news/open-access-the-true-cost-of-science-publishing-1.12676 http://www.nature.com/news/open-access-the-true-cost-of-scie... for a good overview of all the sides here.