My belief has been if you are decently talented at writing and can set aside a few hours to write at least 2 articles/week, you should be writing on Substack. The upside is huge--thousands of dollars or even a six-figure income--with almost no downside besides time spent writing and maybe some promotion, but with any talent the content should go viral (on both the Substack app/network but also Twitter) without too much work. Unlike Medium, Substack seems to care much more about its writers and less inclined to censor. Writers have much more control.

Many journalists are making way more with Substack than with their prior publications/employers, but with full autonomy and control of the platform, so they have both more income and also the platform, which is also worth a lot and can be monetized in other ways, like affiliate links. It shows how much money they were leaving on the table.