I happen to be a member of a subreddit you'd probably describe as "racism and hate speech." Obviously I find some redeeming value there.
IMO the direction you're describing seems...reactive? I mean, sure, if you don't like racism and hate speech, work to get rid of them, but there's a lot more to social good than that.
Frankly I think Reddit should actively try and fragment itself a bit---give mods more power, let communities become more distinct. Maybe allow mods to add js, or let subreddits host SPA's, etc. Don't encourage subreddit enmity, but tolerate it.
Reddit has a lot of users, but they don't really do much except talk and provide ad impressions. This feels like a waste, considering they're on a compute platform.