Earlier quoted context omitted.
That would be equivalent to demonetizing the entire web. Free content would win out over paid content regardless of quality. As the old adage goes, "when you're getting something for free, you're the product being sold." Only sites making money by, shall we say, "indirect" means would be able to survive. A search engine which prioritizes free content over paid would become nothing but a propaganda engine.
“Free content would win out over paid content regardless of quality” this doesn’t follow unless we assume the most extreme implementation, the openness of the content is just one factor of many that should count in the contents favor. Further it assumes the only non-shady way to monetize content is put it behind a login which is not true.
It's just not scalable into the exploitative cash cows that VCs drool over.