Writing a million words is a walk in the park. Picking the best 40,000 of those words is a grueling pinions-and-ropes ascent up a mountain. Selling those 40,000 words to people is reaching the summit of Everest while wearing a bathing suit and coated in Crisco.
I buy and read about 2 books a month in addition to using the local library so I share Tim's desire to keep the pipeline full of interesting things to read. Publishing has been a good business for centuries, but we do need a way to encourage writers given lots of free material on the Internet.
Seems to miss the point. The hard part of writing is editing, not producing. Nobody wants to read 40,000 random words; the internal act of curating is the hardest part.