On Substack- is it's business model viable?

I like substack, it's handy getting new posts emailed directly to me and is (as far as I am aware) at resisting attempts at censorship (unlike WordPress, again so I hear)

While I appreciate it is attempting to ensure individual writers can earn from their writings, I do wonder how viable it is to have individual channel subscriptions. I currently have free subscriptions to 22 writers. If I were to upgrade just my favourite 5 to the cheapest payment level it would cost me approx £31 a month. For comparison UnHerd, with many different authors, is just £5 a month. That's much better value. 

As with the proliferation of streaming platforms, the question is with rising bills how many people will continue to justify the expense of multiple subscriptions for specific content?

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