I think you are missing the point because you are thinking too short term. Reddit likely won't exist/won't be as popular in a decade or two, the current owners would still own it but it won't be part of the cultural zeitgeist in the same way. Think AM Radio, Cable TV, Friendster or MySpace. Instead it will be replaced with something else, that something else might not even be called social media, and that thing will be controlled by people with a different political ideology than who currently control Reddit.

I don't know how old you are but do you recall the mid to late 90s/early 2000's in the US? Back then we had to fight so shows like South Park could be shown on cable television (a private platform) due to the fact that the general consensus among the population was that content like that offended their personal and religious values and should be prohibited. Those exact people won't be in power again, but people similar to them almost certainly will. Moves like this hand them a weapon to use against you.