From what I found, there is a lot of stuff Medium does well that is hard to recreate by one's self. Super simple features, like
- rich text editing that isn't ugly
- caching what you're currently working on
- tracking views and who has viewed your article
aren't easy to build and generally aren't worth it unless you write many many articles.
Although I don't like the aggressive account on-boarding and payment models for reading articles, Medium certainly makes life easy for writing articles.