More people != better opinions unless there is a constant debate. And the modern subscription driven model for large newspapers means appealing to the base, and neutrality is bad for revenue.
Substackers also have to appeal to their base. But individual idiosyncrasies and strong opinions are much better preserved when its just one person, instead of a n editor enforcing a hivemind.
https://www.nngroup.com/articles/the-case-for-micropayments/
Small $$ subscriptions are a different variant of the same problem.
To be fair, many of us used to have a bunch of magazine subscriptions--some of which were only $1-2 per month but I'm not sure the same mindset still applies.
We do see things like Apple News+ that aggregate non-free content and perhaps that's something of a solution. We'll see. I do pay for the New York Times and The Economist but I mostly won't subscribe to individual sites online.
I'm also not sure I want the US government deciding which publications are proper participants in an official micropayments scheme.
You need to budget at least $200 USD per month for substack subscriptions. After that, you will need to budget about 10-20h per month to parsing their output and deciding which of the approved media outlets they would be allowed to write for if they weren't making more money with their own audiences. This will help you think critically about what they're trying to have you believe. For those who would not be welcome at even the most heterodox mainstream publications, you will need to spend a bit of time deciding how it is they can afford to be writing for a living. You will need to track down their incomes until you are satisfied that their shadowy patrons are either dark money influence campaigns and/or CIA-NGO grants. Use this information to triangulate the various positions you are presented with. The truth is somewhere in the nexus of lies.
But they don't need that much either, just budgeting $15 a month is more than sufficient to have a favorite paid substack, and several other free substacks. Most people don't have the time to analyze that much information.
Its sufficient to know that viewpoints other than MSM-peddled-narratives exist, that gives people a healthy skepticism, without needing to spend days each month just analyzing the news.
Don't most authors have at least some free content? The only substack where I've regularly encountered locked content on is Emily Oster (who writes about parenting issues). I read on substack a dozen or two times weekly, and I've never found the paywalls to be an issue. Would it be nice to have subscriptions to five or 10 newsletters? Sure. But it would hardly change my life, since most news is available from many outlets, even if you're looking for a particular perspective.
By the latter I mean that with legacy media - despite the political slant (either way) of the publication as a whole, you generally have access to a multitude of voices.
With the Substack model that isn't the case - unless you limit yourself to the free options, or are wealthy enough to subscribe to as many writers as you like.
I suppose there are Substack amalgamations out there, grouping writers on a common outlet, but those who have managed to gather enough of a living striking out on their own are probably not going to worry too much about whether they are also available as part of a more economically accessible and diverse collection of voices using a different subscription model that collates multiple writers for a single cost.
Ultimately that means that access to a truly wide range of authoritative voices is potentially limited to the wealthy.