Nice post and your argument is valid, but can already see people are going to disagree with you, most are going to complain that the quality of work on WN is not to the same standards you would buy on Amazon, and they would also be right.
There are premium authors who also abuse the system, using filler words, repeating sounds etc. I do think that WN should have a system where 201 words would fall into the 200 brackets and not the 400 brackets, but then as a "buyer" you should be aware and if you notice that the premium author is abusing the system, then stop unlocking their chapters.
Maybe also a survey should be done on Premium authors, which could be used by WN to flag novel which should be checked for abuses.
Most of us write for the love of it, and as an author nothing makes you feel better than receiving some sort of monetary reward. From what I have read, authors only get 50% of paid for SS, so the smaller guys aren't coining it.
Writing also takes time, I know that I usually spend 3 - 5 hours writing per day, and that is not counting the number of hours I spend going back and editing my work over and over again, so I feel for premium authors, translators, and editors.
These guys are working their butts off, and they deserve to be rewarded. I think next time before complaining ask yourself how you would feel working 8 to 10 hours a day and having some people continuously complain about how much they are paying you for your work.
I think WN is trying their best to keep everyone happy, and their new VIP premium account was created specifically for avid readers. For the monthly price that you are paying - you get access to thousands of novels and comics, if you purchased novels from Amazon you would get what 3 - 4 books?
And with this new system, all those premium authors are surely going to take a knock in their earnings, as I am not even sure how WN is going to split the monthly subscriptions with all of them.