To vastly over-simplify our economy, we usually expect people with greater ability to pay to pay the same or more for substitutable goods. For example, people with more money can buy fancy coffee from starbucks, while typically people who can't afford that will make do with instant coffee.

In this case, the people with the greater ability to pay have to pay less.

That seems ironic to me, even though I know enough about the economy to understand why it happens.

There are far more English lit grads that are competing for any job with a "publisher" or "journalism"

Also newspapers are well known for poverty level wages even when they had 30% profit margin.

A major publisher can pick and chose from ox-bridge grads who got a first.