One problem with this idea is that collective action problems exist. I truly want this new world, but my employment and promotion decisions are based on the old one (closed journals are older, and most of the prestigious journals are old and closed, and to get a job that's where I need to publish). Critically, the same is also true of all of my colleagues. So we all submit to the old journals, which thereby retain their prestige. In many ways, it's similar to platform economics, with Elsevier in place of WhatsApp.

(I'm also not sure that awesome == efficient + productive, but that's a different issue).