It probably helps that Apple isn't carving out $250 million of their subscription revenue just for Joe Rogan.
Spotify has cheaper family and student plans. To my knowledge there’s no way to make AM cheaper. In addition there’s no ad free version of AM that’s being supported by paying subscribers like there is for Spotify - though I haven’t heard the numbers on P&L on these free users.
On an AM family plan, if they are really paying out 0.01 per stream... then anyone streaming more than 19 songs/day is a money loser for apple.