It is probably the system that is most likely to encourage people to contribute based upon their assessed value of the content and the least likely system to be gamed.
How do you ensure that creators are compensated equitably? You don't even try. Instead, creators depend upon the randomness of the decisions of contributors. It won't always be fair, but it is doubtful that it would create a race to the bottom.
The internet has just provided the final nail in the coffin there, and all these attempts to fight for relevance/get payment from companies like Google and Facebook are a dying industry's attempt to basically postpone the inevitable.
The fact is, even when things are totally free, big money finds a way to bury those things. Similar to people who used to rent DVDs from a store when their public library down the street had the same DVD on the shelf at no extra cost.
If we could destroy the funding of the ad- and paywall-driven businesses, the free stuff could shine. Of course, better to move the funding to the free stuff and have it be even better.
As David Graeber put it, people need an "out". UBI is a good out, but well-funded meaningful creative work is another potential out for at least some people.
It's like what happened with mobile apps. People expect everything for free/maybe with microtransactions or ads, so it's basically impossible to monetise stuff in that market.