That's reasonable, but then you leap from there into giving credit to Reddit per se, instead of a Reddit-like company that would exist in Reddit's place if Reddit didn't exist. That's where we disagree. In Reddit's absence, another company would rise to do the same thing, therefore Reddit is providing little to no unique value to the world. The delta of the world with and without Reddit is close to zero. Hence no value.
> If it's really "the users" that bring all the value to the table, then why can't those users manage to organize into a community that's not run by greedy profiteers? Because the "running" is where the real difficulty, and thus the real source of value, is.
This is a conflation of necessary and sufficient conditions. Infrastructure, by itself, is a necessary but not sufficient condition. So are users. Either of these things in isolation have no value because neither of them are sufficient conditions.