I feel anyone who drives enough traffic to get consistent and valuable ad paychecks could just as well make exclusive paywalled content through Patreon and what

I feel anyone who drives enough traffic to get consistent and valuable ad paychecks could just as well make exclusive paywalled content through Patreon and whatnot. If you can convince 0.1% of your viewership to fork over 1$/mo, wouldn't that match or exceed what you'd get from ads anyway? Of course this system doesn't benefit the many websites that rely on clickbait and quantity>quality content (since they are direct consequences of how the ad market works), but would anyone miss those?