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The issue isn't whether there's added value or not, it's that the publishers have colluded to raise the price. If the price goes up because people see an added benefit and are willing to pay more, that's fine; that's the normal operation of a market. But if the price goes up because all of the competitors have gotten together to set a price floor, that warps the marketplace and screws over consumers.
There's a reason agreements between competitors to set pricing is illegal in most countries. In Canada, this behaviour is a criminal offence, punishable by jail time for corporate directors and officers and/or multi-million dollar fines.
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