I mean, I get where he's coming from (reach is reduced by imposing barriers to the article).
But on the other hand, news costs money. You can argue about how much it should cost, but journalism isn't free. Personally, I pay for 4-5 newspapers (which is too much), but after the sh*tstorm of the past three years (Brexit, elections etc), I felt that it was worth the money.
It's also a little ironic for someone as rich as Paul Graham to be arguing against paywalls (like he could pay for every news-subscription and never notice the cost).
In summation, Carthego delenda est! (or news is worth paying for, at least).