If I were an SRE at Reddit, the day I got wind of the "we're making all subreddits private" thing, I'd double check that code-path to see what we were in for on Day 0. However, I am not.
Looking at Meta/Google/Apple's layoff packages of 6 months of severance, and factoring in $170k-$389k annual income at Reddit (per levels.fyi), I would hope they have enough savings to live off of for months if not years, to enable thtem to protest, should they so desire.
And the twentysomething kids on $200k on the west coast won’t be saving that money (if the number of Teslas on the road in Redmond is anything to go by): they have no reason to believe they won’t make the same kind of TC at the next job they apply for.
It’s not quite an alternative. It’s good though and I’d recommend joining once there’s another invite wave.