From the original post:
We are holding the Content Strike because we want to demonstrate that LiveJournal is content-driven.
We are holding the Content Strike because we want the new owners of LiveJournal to better understand the power and resolve of the LJ Community of Users.
We are holding the Content Strike because all of us, Paid, Permanent and Plus users as well as Basic, want to demonstrate our solidarity as a Community of Users. We do not consider Basic users to be freeloaders, we consider them to be valuable content-providers and Friends.
sabotabby says it better. She has better graphics, too.