According to the post, it also pays $125K / year for a full-time job with the requirement to deliver 6 articles. Doesn't sound very bad.
There is still a great bunch of journalism out there, like Vice (who actually did the original reporting) and then there are folks like this guy who wishes for days of yore. The Atlantic puts out plenty of great content from great writers who get little cash for their efforts.
The market changed drastically on this guy and he hopes he can get more PR from this free blog post than a free byline on theatlantic.com
Good luck to him.