In my opinion, you understand everything correctly. Of course there is a problem that any writer can easily blog her. I am more interested in how this platform is being monetized. In any blog, you can arrange a donation but it probably does not work
You will be using GL tokens for your activities example if you are a writer and you decide to hire a cover designer here in the platform...he will be given specific amount of tokens after his work and also reader use token to read or own your books...so everything is connected from my guess though