The dynamic I’m thinking about would be more relevant if pay to publish was more prominent and the best researchers made their money directly from publishing. 

That would probably require an audience that actually pays to read these journals.

I dunno, I think it's pretty similar to academia.  Just like I don't get paid directly for my research, maintaining a publication record is what qualifies me to teach. I imagine the same is true for some of these chess players who make money coaching, doing videos, or other things

SimpleStacker

This point about negative marginal pay is going to be increasingly relevant, I think.