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Community is not enough
(raphael.lullis.net)
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While the author seems to think this is unrealistic, it seems to work well for Wikipedia and even more so for F2P games that are massively profitable (although ethically questionable as they intentionally exploit gambling addicitons... maybe an argument could be had about social media doing the same though).
The Hacker News discussion that sparked this post also argued that Wikipedia was a reasonable counter-argument. My response then is the same as it is now:
Wikimedia is raking in millions from donations. That money could easily also finance a social media site.
Wikipedia is also actively used by practically anyone that has a connection to the internet, too. Something like Lemmy has way higher costs per user (both financial and computational), and a significantly smaller user base.
Except that the hosting costs of Wikipedia are neligible. Have a look here: https://en.wikipedia.org/wiki/User:Guy_Macon/Wikipedia_has_Cancer
You're agreeing with me.