Lots of fields primarily use LaTeX to typeset papers, e.g. physics and computational biology. Typesetting and hosting a PDF never justifies a $1500 publishing fee given that reviewers, editors and of course authors are all working for free. Hence even the good-guy (non-profit) publisher PLOS took about 20% excess revenue in 2012, primarily by charging $1300 odd dollars for publication in PLOS ONE.
Why do we even need the dated journal model? Push everything to a central arXiv, biorXiv like repo (funded as they are by small donations from institutions). Couple this with open post-publication peer review and endorsements. Millions of tax dollars saved around the world, research open to everyone.
The counter argument is the rubber stamp that accompanies a prestigious journal (and filtering the crazies) but if the repo was accompanied with a suitable array of article-level metrics and thorough categorisation the good science can continue to filter to the top, much like how HN and reddit work.
Why do we even need the dated journal model? Push everything to a central arXiv, biorXiv like repo (funded as they are by small donations from institutions). Couple this with open post-publication peer review and endorsements. Millions of tax dollars saved around the world, research open to everyone.
The counter argument is the rubber stamp that accompanies a prestigious journal (and filtering the crazies) but if the repo was accompanied with a suitable array of article-level metrics and thorough categorisation the good science can continue to filter to the top, much like how HN and reddit work.