I agree there are hobbyists, for lack of a better term, who will always share for free "for the love of the game", passion, whatever you want to call it. Nothing stops them from doing this passion or charity work today, the evidence of that is clear from the content we see daily pass through /new here. That was never really ad driven, nor would it be in the future, and numerous mechanisms remain for them to share this content for free with the world. But that is a small minority of today's Internet and consumption of data, information, and content (imho).
How does HN exist? Wealthy benefactors. Do I appreciate it any less? I do not, I am very grateful. But solutions are needed where a wealthy benefactor has not stepped in or does not exist, a commercial business model is untenable, the government does not or will not fund it, and the scale is beyond a single person spending a few hours a week on it for free.
https://xkcd.com/2347/