You can probably imagine why that would be a problem from Reddit.
I don't personally care if companies like reddit get to face the harshest possible fines from the EU, they are morally bankrupt after all. I mean, almost every image posed on reddit is a form of piracy, and very rarely does the original content creators actually benefit from having their works shared or altered on reddit, and that's not even touching their shady political and commercial manipulation. On the other hand, I really doubt that EU legislation will ever be successful in stopping people from sharing dank memes.
Also, I'm guessing this only applies to the desktop version of reddit, because would be impossible to see anything on the mobile version anyway since everything is blocked by all those "USE OUR APP" banners.