That works nicely if your institution participates in ACM Open (no such institution in my country, and no, my country is not in the list of lower-middle income countries).

The combination of 'publish or perish' with 'pay for publication' and 'miserly grant money' is deadly.

While in theory the idea is nice, in practice this is a problem (maybe not in most rich countries, but here definitely).

Nowadays, you could always get the article you are interested in, even if it is beyond a paywall. Hence, perversely, the old model (which I hate, for reasons well explained in the original post) worked better for me. :-(