Earlier quoted context omitted.
Well, the $2bn of "publishing costs" include paying their CEO tens of millions a year[1], paying million-dollar packages to a number of other managers including Nick Luff and David Palmer, and dropping 1-2 million a year on non-executive board members who don't do anything at all. Besides, do you really think it takes 28,000 people to publish a single company's journals, given that the selection and review process is…
If you can do it for less, go ahead. The fact that multiple companies all have similar margins, and even open access (besides for the privately funded/subsidized ones) has the same order of magnitude charges makes me think it's unlikely.
http://www.acs.org/content/acs/en/about/aboutacs/financial.h...
The smaller American Physical Society made http://www.aps.org/about/governance/annual-reports/
So yes, it is possible to have high quality publications produced on much smaller margins. The question is whether it is possible to provide similar services for similar margins in a for-profit context. Given that for-profit companies, by definition, seek to extract the highest possible profits on what they do, one should really question whether it makes any sense for for-profit publishers to have the stranglehold they have on academic intellectual property.