Maybe in the past but most of the journals now will return the manuscript to the author or charge for revisions and any typing service.
The margin in academic publishing industry is one of the highest in all industries for a reason.
But I agree with the author that open source publishing incentives publishing more papers even if it is of lower quality. But also it does harm the repetition of the journal.
The elephant in the room that people usually avoid is that this is a political problem. You cannot rely on publications and journals impact factor in grant selections and academic careers evaluations and expect to solve this problem. No scientist is going to choose to publish an article on their website vs a journal if it will not only not add but harm their careers. Yes people put papers on arxiv but most of who wants to continue in academia will submit them for a traditional journal publication.
And how would we fix that? That's a policy reforms of funding agencies and academic institutions evaluation methodology.