With some reservations, I agree.
The mainstream media became an elite club, which cares more about itself than informing the public. Hence, many good writers have no better option than social media. By attracting them, Medium has the potential to compete with the legacy media.
My reservations stem from my strong conviction that the best way to inform the public is not by lecturing but by engaging in conversations. I saw it working during my formative journalistic experiences. Obviously, I wrote about it on Medium: “What did I learn from the world's best editor?”
In my Medium publication, Virtual Agora, I try bringing polemics back. This way, professional writers might interact with occasional writers, who, as Tony points out, are often professional experts or simply can give us “how it is” reports from their experiences.
By exploring this opportunity, Medium can become a valuable alternative to the mainstream media, or at least a supplement.
Sadly, I do not see that Tony and the leadership team see the value in this approach.