It’s worse than that. Authors actually pay (up to several thousand dollars) to publish, the editors who find referees are doing this as a side job, so probably they’re not exactly overpaid either. Finally you have the anonymous referee, who not only doesn’t get paid, but they get literally zero recognition. Also, papers aren’t printed in journals any more, they are online only, so there’s no printing fee either, there’s only just server hosting costs, paying some people for language editing and final typesetting (in many fields authors must submit LaTeX manuscripts, basically ready for publishing). And profit of course.