There's plenty of content to be had. A the moment content for perl magazines is limited by the number of people each magazine is in a position to browbeat out of authors. (Except in those cases where actual beating is necessary) That's a not-inconsiderable amount of work.¹

Multiple magazines can, at the moment, make it fine. The community of readers is large enough. I have no doubt that they can both succeed if done carefully.

¹Speaking as one of the authors in regular need of browbeating to make deadline...