I don’t think I am being misleading. If there’s more good than bad writers on Medium, then the platform will have a better reputation and attract more readers, yes. However, it’s a very small portion of writers who earn a living through Medium and it’s probably going to stay that way.

Someone who already has 20k subscribers will have another 1k in no time, whereas a newbie will have to work extremely hard to reach their first 1k readers. It’s also not granted that this will ever happen. On the reverse, if it’s true what you are saying and the money is being distributed more equally, I suspect that no writer will be able to make a living through Medium anymore.