This is right (and write):
So why not try this: If academic work is to be commodified and turned into a source of profit for shareholders and for the 1 percent of the publishing world, then we should give up our archaic notions of unpaid craft labor and insist on professional compensation for our expertise, just as doctors, lawyers, and accountants do.
This does not mean we would never referee articles free. Just as the lawyer who is my neighbor bills corporate clients a hefty fee but represents prisoners in Guantánamo pro bono, so academics could referee without charge for nonprofit presses but insist on professional rates of compensation from for-profit publishers that expect us to donate our labor while paying mansion salaries to their chief executives and top managers.
It doesn't necessarily mean that academic publishing will die, but there are going to be some massive changes to the system.