I'm happy you found my analysis helpful. I think you are still hanging up on reads vs views vs time.

What you are getting paid for is "member" time spent reading. Time is the key number for how much you get from the common pot. Not reads.

To illustrate. I write long articles on Climate Change. My articles actually scare people. I am not a popular writer. My articles don't get high numbers of reads.

But I have articles that have earned over $100. Because my loyal readers, spend the time to read them completely.

So, while my "reads" is relatively low. My "Time" stat can be high.

"Reader Time" is the key Stat in terms of what you earn. Or it was before subscriptions.

Now, if a reader subs to Medium through you, you get half their dues money. Off the top. No "reads" or "reading time" required.

CHA CHING!

Subscriptions change the whole dynamic of Medium. They encourage writers to turn followers into subscribers which makes Medium a very "Zero sum" environment.

Because, people can only subscribe through one writer. So, readers who want to subscribe to a writer to support them. Now have to choose just one.

Since the bulk of each "subscription" is going to just one writer. The most popular writers with the most subscribers will make bank. The rest of the writers will get what's left over after Medium takes it's cut.

That's what's happening right now. They are making Medium into the literary equivalent of Only Fans.