You know how I can tell Reddit doesn't have any content creators in upper management who consider these decisions? Because at least one of them would've spoken up:

"Oh, we built many of our communities on sharing Copyright protected content by way of our weasel-cousin IMGUR, so let's go ahead and bring all that DMCA/Safe Harbors liability under our umbrella - you're joking, right?"

At least the Conde Nast lawyers will come out okay in this.