tl;dr: you basically have to cap how much the sites can charge to avoid the pot getting drained by a bad actor, but that just creates an incentive for every site to charge the maximum - why wouldn't they? There's no human deciding after all. So then you're basically deferring to, and trusting, a central actor to set the price for all this content. Then premium content makers have to demand a higher price to make the economics work, which in turn, means everyone sets their prices to the new upper tier.
That has its own serious implications, and comes with much of the same hazard as Google has today, IMO. By eliminating the agency in making that purchasing decision you eliminate much of the benefit of a market for content.
