If I submit a grant application and I have five papers in Nature, I will get the job. If I submit the application with five preprints on biorxiv, I might as well not have published those. It's like that all the way down - my last academic employer required me to publish a certain amount of papers per year in my niche's top 10% impact factor journals. it's due to laziness - I'm an expert, my employer is not, so my employer cannot evaluate my work quality. So the evaluation is outsourced to journal editors, with a paper acceptance in a prestigious journal being a stamp of approval of my skills.
The reason why people do not build their own journals is that they will work, for a long time, outside this impact factor system. You could chuck all of your papers into alternative journals, but you will fast jeopardise your career. It's not a technological problem, it's a political problem.
Because if there is no such restriction, instead of paying £2,700 to Elsevier, they can pay the new platform significantly less and still get the review done by the same quality of editors. Sure the platform name isn't as reputable as Elsevier's is but the editors are the same and the only way to build reputation is to spend time and effort on it - it is obviously not an overnight task.
It is definitely a hard problem - obviously our armchair discussion can't solve it. But it is a very interesting problem.
It's a chicken & egg problem - you need a good decade for a journal to be come influential/high IF, but for that to happen you need people to submit their papers to your journal. And they won't do that if there's no or a low IF.... having good editors might help as they'll be able to choose or attract highly influential papers, but that's the least of your worries! Those papers will go to high-IF journals and there's little reason for those papers to go to your journal.
The EU just announced they're changing that towards no cost open access mandates: https://www.researchprofessionalnews.com/rr-news-europe-infr...
Good news! We'll see how the publishers will torpedo it
Indeed! Maybe they will try to make it difficult to access but atleast as long as the access is open and free (as in beer), all those efforts will do is give rise to a secondary platform that will solve the ease-of-access issue.
I suggest you submit a new post once EU decision is final, either way, so that this topic stays in the forefront :)
I know a couple of people working in this space, and ultimately it ends up being a networking issue: in order to get peer reviewers at a scale which is acceptable, you basically have to buy editors with networks of contacts. Since good or even mediocre reviewers are scarce, this ends up leading to significant competition for reviews. But reviewers are not compensated so there is no market pressure for reviewers to actually exist. Publishing is now a profit-driven system built on top of an informal network created by enthusiasts who were originally doing the work because it was important to them.
There have been a couple of attempts at matchmaking systems and rewards systems. https://www.reviewcommons.org/ is the most visible in my field, but they only get 1-2 preprint reviews out per day so far. This is still quite new and there are a couple of other platforms in development.
https://github.com/alshedivat/al-folio
Take a look at the ICLR example in that repository. Yann Leclune popularized the open review movement years ago and everything is based on open source