[firejake308]

> without some kind of editorial oversight imposed from above nothing coherent nor useful will be produced.

True, but academic publishers charge an absurd amount of money in return for very little value. The publisher provides a platform for "editorial oversight" by peer reviewers, but they do not pay the peer reviewers. I would argue that "editorial oversight" in the form of peer review may be worth thousands of dollars per publication, simply providing a platform for that review and profiting from volunteer work should not be compensated as highly as it is right now.