"Community" might be the hook, not the content itself. That's the way it works right now even in the pure editorial garbage piles. They might not always pay for the content directly, but they get revenue through high-margin merchandise, advertising, and scams. But you might imagine positioning as "I'm a XYZ reader." Still feels weak, but that's all we've got. The internet killed content scarcity. The product is not the content. The product is the way reading / watching / paying for it makes you feel. It is church. It is a tithing. A community subscription service.