George’s socialism analogy for academic research is spot on. I doubt many “lower tier” journals would exist if faculty publications were not a crucial part of performance evaluations.
Individuals unaware of the publishing game would be astounded at the number of available outlets for publishing academic work that is of little value except for a bullet point on a CV. How else can one explain The Journal of Vacation Marketing or The Journal of Food Products Marketing? Are these journals responsible for making the milk so hard to find when shopping in a new supermarket?