/r/CrappyDesign went through this same drama when the big dust up around /r/IAmA happened due to one of the female employees at reddit getting fired. The moderator there felt like the community was all about him, and he therefore had the right to close it down.
And yet as soon as he shut it down, someone opened a request with the admins to take it over, it was granted, and the community now is stronger then ever. If mods want to leave reddit then so be it, but they need to stop any delusions that they are the keystones holding their communities together.