Number of followers seems to have little effect on reads, I've found. Some people with fewer followers have more dedicated readers, while others with more followers apparently have very few. There should be an upward correlation, but honestly, I reckon of my 5k followers, 4.9k left the platform a year ago!
It's a nice little ego boost to think that many people like our work, but really, they don't. That's not a slur on you or me... it's just a reflection of the non-reads on Medium. And the follow count having very little to do with reads, until you hit the huge followings, then it starts to ramp up a bit, I think - but I'm not sure. I will let you know if I ever get BIG! Or maybe you could report to me if you get there first!