In a comment shared by r/Apple moderator @aaronp613, Reddit cited its Moderator Code of Conduct and said that it has a duty to keep communities “relied upon by thousands or even millions of users” operational. Mods who do not agree to reopen subreddits that have gone private will be removed.
If a moderator team unanimously decides to stop moderating, we will invite new, active moderators to keep these spaces open and accessible to users. If there is no consensus, but at least one mod wants to keep the community going, we will respect their decisions and remove those who no longer want to moderate from the mod team.
Imagine your entire website gets moderated for free and you still can’t turn a fucking profit.
No only does it get moderated for free, but the users also provide the content for free - or link to articles that other people have written for free (or at least no cost to you)! Dumbasses have wasted piles of cash creating features like Reddit live, followers, and chat - that no one actually wants. In the meantime, they’ve gotten rid of the employees that were the most visible and valuable to the community (Victoria). What a cluster fuck.
That’s probably not what is happening. Reddit sounds like it is basically a spac now and they’re probably losing money on their other ventures.