Earlier quoted context omitted.
> There is nothing preventing search companies paying the same $60 Million to license content. Yes, actually, there is - having $60m to throw around. "Barriers to entry often cause or aid the existence of monopolies and oligopolies" [0]. Monopolies and oligopolies are definitionally the opposite of free market forces. This is quite literally Econ 101. [0] - https://en.wikipedia.org/wiki/Barriers_to_entry
Microsoft can throw around $60M, and Bing is used by most of the "alternative" search engines. It doesn't solve the problem, but if money is the only thing preventing search engines from accessing Reddit, then what goes for Google also goes for Microsoft.
That's a symptom of the issue, not a solution. Bing is used because having your own crawler is infeasible, partially because you will be literally blocked in many cases.