ELI5: I'm not from academia so please help me understand. Are researchers who publish these [firewalled/copyrighted] papers likely to lose out on their earnings if this is 'open-sourced'? I'm honestly asking as I try to think through the whole 'open-source' paradigm and how it fits in a (mostly) capitalist, libertarian world. Thanks!
Wow! This is ridiculous. How, and why, is such a business model still working? The only scenario I can think of is when an independent researcher wants to publish his/her research to disseminate to a wider audience and invite critiques. Or, is that also possible without these publishers?
1. Reputation. Journals are a provider, mainly, of a note saying "this paper is worth reading". This reputation is calculated largely by how much the papers they publish get cited later on. Due to the speed of iterations of science (how long it takes for a published paper to be used in more work, and then that new work to be published) it takes a long time to get past this.
2. Organised peer review. Despite the reviewers working for free, it's still not a free process. There's a great twitter thread about this from someone at peerJ (founder?) but I can't find a link now.
Getting more and more common is to pay the publisher and have the work made openly available, or at least to deposit the work in an institutional repository.
[disclaimer, I work in the science & publishing area for Digital Science, but on analysis of data not the publishing itself]