Is the staggeringly profitable business of scientific publishing bad for science?

...it seems that frustration with the current system is growing. But history shows that betting against science publishers is a risky move. After all, back in 1988, Maxwell predicted that in the future there would only be a handful of immensely powerful publishing companies left, and that they would ply their trade in an electronic age with no printing costs, leading to almost “pure profit”. That sounds a lot like the world we live in now.