This may prompt Reddit to push ahead on their threat to take over key subs that stay dark by replacing the moderators with their own. Of course, Reddit can't afford to scale that to very many popular subs as modding those is extremely labor intensive.

Worse for Reddit, dumping long-time community moderators en masse would be crossing a Rubicon that could tip Reddit into a death spiral of low-effort moderation reducing content quality and engagement which will feed back on itself. The mods going dark for longer may in fact be hoping to goad Reddit into responding with such self-destructive stupidity.