They do, but you have to apply and be selected. Compared to all users, its a fraction. And everyone else gets pushed into the paywall, because medium basically says: "If you don't we will not promote it and your post will die in obscurity"
Ofc they're a business. But in youtube terms. As a creator you either put your video behind a paywall,and not necessarily get paid, or your video will never show up in any recommendations. So unless somebody searches for it or has the link. Nobody is going to see it. And every viewer on youtube gets 5 videos a month.