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The publisher creates the journal and brings aboard the editor(s). The author then can decide where to submit a paper -- or maybe even just distribute it for free on the Internet and forgo all of the bureaucracy. The author has ultimate control.

Now you might argue that authors need to publish because the promotion committee cares. Okay, but again the professors are in control. If they don't want to use the journals and their filtering pipeline, they can come up with their own way of giving out promotions.