Problem #1, they did not port classified adds to the internet.

Problem #2, it's a free website that requires registration to view add supported content without providing a reason to register.

Problem #3, high cost of content. It might not cost much to show a page but creating it costs more than user or software generated sites.

Solution: Either drop the registration or add some social aspect that uses the registration. If someone stumbles on a NYT article from Google and needs to register to view other pages there is a problem.

PS: Advertising is the only form of micro payments of the web deal with it or develop something new.