>Publishers acquire this research free of charge Except of course they don't. They provide publishing services, which cost them between 60-80% of the revenue each paper bring in (based on profit margins between 20-40%). Authors sign over their copyright in exchange for this consideration. (If they didn't get anything, the copyright assignment wouldn't be valid.) > leading journals have stepped forward to make new fin…
Have you ever published a paper in an academic venue? What publishers offered was delivering paper versions of articles to your local research library. Now they only host PDFs online. Apart from that their added-value work is negligible. The biggest improvement I've seen by a publisher of one of my papers was changing "Sec." to "Sect." when I was referencing section, and putting page number in blue rather than black…
Those all seem to be sponsored. That won't scale to every paper unless some large organization funds it. The biggest open access journals all charge.
> it includes literally zero work from the publisher.
As long as their expenses are >60% of revenue, I find this hard to believe. If you think they're wasteful, you can run your own and try to spend less, but denying their costs won't convince me.
>The only thing that publishers provide is reputation/prestige
Like I said, this model doesn't fit with the numbers we have about their margins. I'd at least expect over 50% profit margin if they were merely extracting rent, and probably closer to 90%.