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You really can't separate credibility from reach. Credibility is reach. Credibility gets a message attention. Credibility gets a message passed on. A traditional publisher is not the only source of...
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#4: Attribution notice removed
Source: https://writers.stackexchange.com/a/34527 License name: CC BY-SA 3.0 License URL: https://creativecommons.org/licenses/by-sa/3.0/
#3: Attribution notice added
Source: https://writers.stackexchange.com/a/34527 License name: CC BY-SA 3.0 License URL: https://creativecommons.org/licenses/by-sa/3.0/
#2: Initial revision
You really can't separate credibility from reach. Credibility is reach. Credibility gets a message attention. Credibility gets a message passed on. A traditional publisher is not the only source of credibility today, but they are still a huge one. The credibility that a traditional publisher brings will get your message a wider spread and a more willing hearing, and thus get you more readers. Self publishing is for those who are not good enough, or who are not writing on a topic of sufficient general interest for a traditional publisher, or for those who have, or can build, a platform and a credibility of their own and want the control and the higher margin that they can get from going it alone.