I think this question is far more interesting than the blackout drama. It seems Reddit hasn't made a cent of profit in 15 years. That's absurd even by SV standards.
Is it incompetence? Not a priority because the focus was always on growth? Or just difficult/impossible as nobody wants to pay for anything and block ads?
I don't know the answer, but the answer matters. Both in this strike and the Stackoverflow strike many people are dropping claims that the company only cares about money. Those claims make little sense to me when the companies is making a loss.
You could have very valid reasons to strike, but you're striking against a company in financial trouble, facing an existential AI threat, and an advertiser pullback.