You ask basic questions. If Medium leaders and investors at least acknowledge questions like yours, you would not need to ask them.

You can get up to speed by reading hundreds of articles on the subject. I cannot provide you links to all articles worth reading, but I obviously can list mine. You can start with three directly addressing issues you write about:

Can Medium be the next big thing in media? – Posted Aug. 8, 2022. It is an open letter to Medium leaders; so far, no response.

Medium at crossroads – Posted July 19, 2021. Your article repeats, in other words, the same issues.

The Medium’s real challenge. – Posted Aug. 12, 2021. Addresses your concerns about the paywall on Medium.

You might find interesting my take on writing in general, but inspired by my five years on Medium:

Drowning in the deluge of futile advice. – Posted Sep. 7, 2022. The title says it.

The future has the great past, but the present stands in the way. – Posted July 20, 2022. What do we expect from the media?

Writing is not about writing. – Posted June 22, 2021. It is about communicating with others.

Facebook is evil because it is us. – Posted Oct. 20, 2021. Facebook is not a Medium competitor, the WSJ and alike are.

Lastly, my old article about the crisis in print, or my preferred term, text media:

Journalism does not need to be saved, newspapers do. – Published March 13, 2009.

Have fun.