It also doesn't seem like they tried to fix the real issue. From all accounts, their platform is easier to create content on but was that really the pain point?

It also doesn't seem like they tried to fix the real issue. From all accounts, their platform is easier to create content on but was that really the pain point? There are lots of people who enjoy creating content but would like there to be some ability to have the chance to grow into their full time gig. Additionally, there is so much content out there that discovery is a real problem. But they took a direct approach and just put ads on the page but you need huge scale to get big money. I wonder if people would pay for a Medium "subscription" if what their site did was recommend three articles each day that you are likely interested in. (Obviously using some kind of ML to slowly learn your areas of interest and writers you prefer). The content creators get a cut based on views and ratings (maybe?), which circles back to better content. Once you have tons of awesome content, people will always pay. The above is not fully baked, just thinking aloud....