Light has momentum

Light has energy and light has momentum. E = mc^2 and p = mv. Seems
reasonable that light might have some mass, so long as it is in the
form of vast numbers of nearly infinitessimal charged particles with
radii on the order of the Planck length.

Just as ocean waves are undulations in an underlying atomic substratum,
so light might be waves in an underlying subquantum substratum. Of
course, these subquantum particles would have to have some special
properties: charged, + and -, travel at the speed of light, incredibly
small masses, etc.

Arguments for and against this hypothesis would be most welcome.