Second, will a larger pool of writers and the increased competition for readers they generate tend to increase the quality of the product (in terms of raising the ceiling of excellence, not the mean quality) – or will the publishing houses, and the vetting processes they employ, remain insulated from the teeming masses of authors and continue to cultivate the cream of the crop and set the standard of excellence? More.
Reality check: No, probably not. But it’s their own problem if they don’t. Democracy is, among other things, the right to make bad decisions.
See also: Mizzou top U for growing up stupid* (Some people actually pay for an education at a place like this.)