Shana,
I think the publication could continue, but without its editors receiving any compensation/financial support from Medium, I'm sure they will not be able to spend the time reading and editing submissions.
I'm actually always surprised at how many individuals run publications here on Medium. It must take a ton of time, and is not compensated in any way. Anyone who runs a publication, can you provide insight on why you do it? Seems to me you'd just be better off writing and try to make even a little cash that way, rather than reading submissions for free.
Thank you for reading and for the comment, too.