The billionaire’s typewriter · Amr Eldib 

The billionaire’s typewriter

Still, I wouldn’t say that Medium’s ho­mo­ge­neous de­sign is bad ex ante. Among web-pub­lish­ing tools, I see Medium as the equiv­a­lent of a frozen pizza: not as whole­some as a meal you could make your­self, but for those with­out the time or mo­ti­va­tion to cook, a po­ten­tially bet­ter op­tion than just eat­ing peanut but­ter straight from the jar.
But unlike the Times, Medium pays for only a small fraction of its stories. The rest are submitted—for free—by writers like you. After a long time being elusive about its business model, Medium revealed that it plans to make money by—surprise!—selling advertising.

I struggled to understand the appeal of Medium for many people. It seems to be that it's popular because it's popular and it's where all the cool kids hang out.
This post explains why we should look beyond that.