"In particular, it thinks that, with the open access mandate, research institutions will stop subscribing to the journals, and instead decide to wait 12 months to get the research for free."
So? That would be a sign that the value the journal adds by selecting what get's published is apparently not worth the price they are charging. In fact, why wait 12 months? If that leads to journals going out of business, there work wasn't worth the money. Of course there will be a need to organzie journal access, but I am sure that will be figured out super fast and the result will be cheaper and better, than what the Journals are doing right now. After all it's a problem we are solving on the Internet all the time.
So? That would be a sign that the value the journal adds by selecting what get's published is apparently not worth the price they are charging. In fact, why wait 12 months? If that leads to journals going out of business, there work wasn't worth the money. Of course there will be a need to organzie journal access, but I am sure that will be figured out super fast and the result will be cheaper and better, than what the Journals are doing right now. After all it's a problem we are solving on the Internet all the time.