Perhaps, but not as encouraging as a migration to self-hosted Matrix servers on traditional paid dedicated/virtual server hosting that's much less interested in policing its customers' content than platforms are.
The era of the walled garden will end. #RemindMe
Reddit has not been helpful at all. The mods made a post after they shut down the sub saying that the Reddit API can't handle the amount of traffic they need to moderate, and they've asked for special permissions.