I agree with the first paragraph. As to the rest, the finance people could dump the stock on someone assuming there will be a period of (un)reasonable optimism not far from the IPO. This is par for the course with overhyped stocks AFAIK. They even can have some semblance of profitability from running Reddit completely as a Skinner box internet chum feeder with brand recognition.

I think the best scenario (globally) is that a new generation of internet power users, at least 5-20% of them, would learn federation and forums. This could be a lesson for... half a decade, maybe. The ones foolish enough to stay in their pens will be only having it worse as time goes on.