I think it's the same entitlement mentality that leads to "I want to use my ad blocker but I also hate your paywall." Yeah, I get annoyed by ads too, which is why I pay a few subscriptions.
The New York Times concluded years ago that those people would never pay you anyway, so why bother giving them access?
Doing things for "exposure" is somewhat of a meme nowadays, but it can work. That's why people let Google past their paywalls. Mileage varies a lot of course.
One issue for a large media outlet is maintaining standing, cutting off all access to those who won't/can't pay means you're no longer the go to place for news (or whatever), that can have wider consequences.
The New York Times concluded years ago that those people would never pay you anyway, so why bother giving them access?