> Headline literally has the word “losing” in it

Losing market share threatens “hub” status. That doesn’t mean everyone is miserable. But there is a real story in the data someone who reads the article will glean.

> as long as you’ve got the clicks

The Journal makes money on subscriptions. You’re describing publications that cater to people who don’t pay for news and don’t read articles.

WSJ, like pretty much all media, earns money from both ads and subscriptions. They have ads in the middle of Apple News+ too. And I assume they get paid somehow for “submarine” or PR articles.

https://paulgraham.com/submarine.html

> I assume they get paid somehow for “submarine” or PR articles

Submarines aren’t paid for directly, particularly not at reputable publications. They take advantage of journalists’ desire for convenience, not revenue.