This is the hypothesis I always personally find fascinating in light of the army of semi-anonymous Wikipedia volunteers continuously gathering and curating information without pay.
If it became functionally impossible to upsell a little information for more paid information, I'm sure some people would stop creating information online. I don't know if it would be enough to fundamentally alter the character of the web.
Do people (generally) put things online to get money or because they want it online? And is "free" data worse quality than data you have to pay somebody for (or is the challenge more one of curation: when anyone can put anything up for free, sorting high- and low-quality based on whatever criteria becomes a new kind of challenge?).
Jury's out on these questions, I think.