A subscription with pay-per-view revenue share cuts out advertisers as the money middle man, but it still rewards clickbait headlines and easy to consume top lists over deep investigative journalism.
The core problem (or "problem"?) of journalism today is that what people actually want to read is very different from what is "good for the society" for people to write and read. You can't fix it with technology that optimises based on market economics.
Some of the ways newspapers financed deep journalism in the past were classified ads (now split into separate businesses like craigslist) and the inability to track the readership of individual articles. Now that each click is tracked, it is obvious that a Top 10 List article costs $10 to write while bringing in more revenue than a $10000 months-long investigation.
So to "fix" it, you first have to decide that you are going to deliver people journalism that is "good for them" rather than what they want, and then find a way to subsidise producing that content above its natural market value. I think that a "rich billionaire owner" willing to lose money to earn reputation as an owner of a serious newspaper is actually a more promising funding model than spotify for media.