Fully agree. But whenever an editorial board (like the one here) is fed up, they might be more likely to make the jump. I believe we may be about to reach a critical mass behind open access, but publishers won't make this easy.
Arxiv.org is very successful for pre-prints, at least in some fields like computer science. Maybe a modern "journal" offering review and editing could be built on top of that? It would utilize open reviews instead of the traditional anonymous private reviews. Once a certain bar has been reached with reviews, the paper can be nominated for appearing in a journal, which editors can decide on.
https://gowers.wordpress.com/2015/09/10/discrete-analysis-an...