First claim: The publisher rakes in 100 percent of the subscription fees, and access to what is meant to be a public good is restricted thanks to intellectual property laws.
This is the exact same issue with the "right to repair crowd."
Step 1. There's something wrong with the market.
Step 2: Analysis: because of IP law.
Why isn't the argument made against the actual cause? Bad intellectual property law has been a major issue in the US for decades now. Indefinite copyright, extortionate liabilities, patent trolling, and the farce of the DMCA.
It seems to me that "the market" isn't even getting a chance here.