1 It doesn’t pay writers and insists on owning their copyrights. That’s theft, albeit a consensual form of the offence.
2 It’s soporific.
Let me save you the trouble of reading it.
Like Michael Kaiser’s equivocations, it adds precisely nothing to our knowledge of how to run the arts in tough times. These people have, as their first priority, the concern not to offend the people who pay their wages. So all you get is bland blah-blah.