Yes, it's certainly good, but the fact that we have to pay 2k$ typically per publication is still noteworthy. And that money goes from universities/grants/government/funders to something, but not to referees. I don't quite think that typesetting (given that most articles are submitted in LaTeX form) or serving the articles on the web is worth that much money. So I'll personally still submit to journals without page charges and upload pre-prints on arxiv.

Pay-to-publish will do more to destroy the academic publishing model than anything else. I say this not because I disagree with open access, or because I want to see the current system continue, but I do think it is worse with more perverse incentives than the current system.

Papers published under this model under US law used to have to be labeled as advertisements.

It might actually reflect academic economics more accurately, really. But if so, once people recognize it as such I think it will change things tremendously.

Libraries that used to be supportive of these models have stopped paying for them (at least in cases I'm aware of), and I doubt academics will pay thousands of dollars to publish a paper that is accessible on the internet for free, or through donations.

> the journals will be fully supported by article publication charges (APCs) assessed to authors.

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