because payment processors hate small payments and punish accordingly (with flat fee +%)
The model just doesn't work at this point.
I think in this day and age where most news outlets simply give you a paywall I think this will work just fine. Because now the alternative is just not reading the content (or paying a sub which is ridiculous for a site you view a couple times a month)
Anecdotally, this works for me - I pay for a handful of subs, and I don't use any news aggregators or feeds - the sites with subs I pay for cover everything of interest to me.