The sooner we can get to where this is all going, which I believe is tiny, contactless, trust-less, anonymous micropayments on a per-page basis, not a coercive subscription model built on dark patterns like recurring charges and call-to-cancel, the better it will be for everyone . Paywalls and other gating have totally ruined the user experience of the Internet and it is totally orthogonal to how the Internet and its protocols were designed to function. The sooner media realizes that they have to band together to adopt some sort of per-page or per-view micropayments solution in order remain aligned with the content model baked into the web's architecture, the sooner they will figure out how to support their profession with a continuous revenue stream and also, yes, even profit.
And for those who say that will warp the incentives of news reporting: they are already warped by page views and ad revenue. It's self-deluding to think that subscriptions somehow prevent that.