https://archive.vn/KojNR#selection-7875.0-7947.5
Brief recap on its current state of affairs: https://www.youtube.com/watch?v=wqx4wdn4Odc (18 minutes and change)
Terms that have no distinctive power have little value, so while I'd certainly consider them "users", I wouldn't consider them part of the community, much like a tourist staying in a village for a weekend isn't a part of the village's community.
This is quick becoming a debate over definitions, but I think reddit thinks of itself as both having a community and also as having individual communities. For example, anybody who has had a post in their niche community get to the front page understands that there's a larger community they're a part of that is different from their smaller one.
To me, community implies some amount of connections between the members. I've never put a number on it, but basically something like "if you randomly pick X people from the group, at least Y of them will know each other". That would limit both the size and also do a reasonable test for community membership: if nobody in the community knows you, you're not a part of the community.
This isn't a bad thing. It's not like Reddit has monopoly powers. Some people want to belong to communities that have agreed-upon values.