It is interesting that there are so many articles on Medium that are written about writing on Medium and the variation in money generated from it. to extent that it may reflect the materialism of our society, it saddens me, though I also appreciate that many writers put in much time and effort to produce quality material that deserves appropriate reward.
The reality is, that Medium exists primarily to generate income for its owners and although it cannot do so unless it has the support of writers, their recompense will a;ways be secondary to that.
Yes, I think it is as simple as that, at least in essence, even if the complexities of adjusting the algorithms or whatever, to maintain an effective return on investment, are also very real.
In other words, I guess my response to your question is that writers must decide for themselves whether their contribution is adequately rewarded. At the same time, for those who have a focus on earning, what seems to be a continually varying and relatively opaque set of parameters for determining reward, must be extremely frustrating.
I wonder to what extent those who decide on such matters actually take account of comment on Medium about Medium by the writers who provide its content.