For both of you, I think you should also factor in the previous companies you're seeing originally also got the benefit of the Medium network effect and you won't.

With the switch to paywall focused incentives that went away. The value exchange for free articles is pretty minimal: easy and simple web hosting in exchange for letting them run "read next" links which are essentially ads for their subscription service. That's a huge step down from the old value exchange which had them also sending you readers and subscribers in exchange for giving them the opportunity to burn their own cash. IMO, the step down in value is severe, but also fair.

To get the readers and subscribers, you'd have to publish within their paywall. I don't think that makes sense at all for your main company blog. Easy and simple is good though, so maybe Medium still makes sense. It's just not as good of an option as it used to be.

However, I do think you could make the case that engineering blogs or other recruiting oriented efforts would benefit from focusing on distribution through cross posting or guest posting. I know the pubs that are focusing on Medium's subscribers would happily put an article from one of your engineers in front of as many subscribers as they could.