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Medium.com is a blogging website for people who'd like a Wordpress.com with more whitespace, less features, more barriers to access, more surveillance and more gambling their future.
As a VC-backed startup with no profitability in sight, it's likely to disappear suddenly and therefore it merits a permanent Deathwatch.
Nieman Lab has compiled a very helpful timeline of Medium catastrophes (or "pivots", if you prefer VC terminology): https://www.poynter.org/tech-tools/2017/with-big-plans-to-staff-up-thinkprogress-is-leaving-medium-behind-update/
Medium is a walled garden, notoriously hostile to an open web, at times more than Quora. However, as of 2017 it was possible for the authors to export the content in a ZIP file and import it in a Wordpress site on Wordpress.com.
Websites run on Medium have also presented issues with archival even after abandoning it, see for instance ThinkProgress.
An increasing number of blogs and websites have relied on Medium as a backyard or garage sale site where to put articles too fancy for their usual social media channels but not serious enough for their main website. Therefore, despite not being clearly linked to or from a large part of the web, it can bring down with it a significant portion of history for other web properties.