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Sound like you basically want to crowdsource/democratise the editorial process. The Facebook newsfeed kind of already does that, and that's resulted in most people feasting on a diet of garbage content.
Doesn't the existing model mean that you semi-regularly come across random content/knowledge that you otherwise never would have discovered? Isn't that worth something?
If I wanted to buy that, I would. I don't. I follow a group of ridiculously intelligent people who consistently direct my limited attention and time toward really, really superb ideas. I get a lot more out of their curation than that of newspaper editors. 
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