I don't think the content providers have actually attempted to have that value conversation with their customers though. Why? Because if faced frankly, a lot of the content is crap, and their customers would flee if pushed to pay. Some sites, e.g. The Financial Times have managed to secure paying customers for their site, customers who value the content.

Sites that shy away from the honest conversation, with the risk their user base will walk en masse, have themselves to blame.