I'll gladly pay 25 cents to read an article from a news website, but I won't subscribe for a whole year for $25+, especially when there's dozens/hundreds of sites.
Obviously credit card transaction fees would be a problem, but that could be mitigated by depositing say $15 at a time and deducting from the balance each time.
Also, with 10x or more value on each reader's copy of the article, say hello to more stringent copyright enforcement (either legally or socially: how dare you replicate the work of this beloved blogger and deprive them of income!). And the complete death of independent search engines.
I just don't see ubiquitous microtransactions leading to anywhere good on a social level. And of course, without a ban on advertising (however that's supposed to work), you'd just end up with sites full of ads on top of microtransactions.