Thank you for writing about this.
Unlike you, I feel like I never really benefited from Medium's "boom." It's nothing but a struggle these days. I feel sorry for new, emerging writers, some of whom are amazingly talented.
The corporate machine has dominated once again and now only 1% of writers actually earn anything decent. Same dichtomy as in the real economy, 1% vs the 99. Something has gone desperately awry for sure!