For readers, freemium is better than paywall. Very few readers would dispute this.
For authors, translators, and QI, I firmly believe that freemium is better than paywall also.
I gave my reasoning here:
https://forum.webnovel.com/d/810-keep-it-free-for-everyone-6-95-monthly-subscription-to-read-ahead-ad-free/3
-free readers will still generate revenue through ads (with paywall, many readers will use aggregators)
-$6.95 paid subscription will generate a lot of money (Crunchyroll is making $83.4 million a year from paid subscription). Even at 5% of CR size, that is $4.17 million a year.
-Keeping everything free means aggregators will not become popular. Paywall will drive many readers to aggregators. We definitely don't want to see that happen since it would be a very bad thing for the translation community.
-Keeping everything free means helping spreading the popularity of Chinese novels. Think of it as culture soft power for China. Japan has anime, manga. South Korea has webtoons, tv dramas and kpop. So keeping novels free instead of paywall will help with culture soft power.