Abolishing rent seeking journals

No.12534170 ViewReplyOriginalReport
Explain to me why the following wouldn't work. A multinational non-profit publishing agency is created that contains departments for every single scientific field out there. Each department has several journals you can submit to: Q1, Q2, Q3 ... in order of diminishing exclusiveness and prestige. The Q1 journal for biological sciences would basically replace Nature for example. The cost of running this agency would be paid by every single participating government. Surely it would turn out cheaper than having a shitton of for profit journals which mostly state funded universities have to subscribe to.