Have you ever paid for a print magazine that doesn't have ads? They are usually at least $10.
For some reason, I've started receiving a few magazines at my house that I never asked for: Popular Science, Wired, and Cosmopolitan. They show up for six months, then stop coming. A year later they start again.
Medium has to compete with the rest of the blogging ecosystem, where many of their articles are actually cross-posted from personal blogs. The rest of that entire world, content is free or donation-driven, so the value of a Medium post is effectively nil. Arguably negative, for the feel-good garbage and corporate submarine PR.