As a teenager who has just graduated high school, and is evaluating entering the university research scene, this is a question that has stuck in my mind for a while. I have seen countless articles here, and elsewhere, explaining why for-profit journals for scientific papers is a bad idea... Why is the problem still so prolific?
Is it a result of the interests of the researchers not aligning with the decision-makers, an issue with lobbying, or something else?
In most fields, submitting to a "lower-quality" venue when you could get into a better one means unnecessarily risking damage to your career (or, in case of established, tenured professors, who don't have to care so much about their own ranking, damage to their co-authors'). Also, most universities have access to all important journals, so they don't feel the pain of closed access so much.
While they might like the idea of alternative venues, the universities incentivize them to optimize for "impact factor".