Also, shitting on your userbase only works for so long. You keep consuming people's trust and you eventually reach a tipping point where people are actively looking to move to alternatives. It would not surprise me if there is a sudden exodus if a suitable alternative to reddit became clear.
I don't understand why reddit has taken such an adversarial stance on the whole matter - it's stupid and shortsighted in such a community-driven service, and if I were an investor I'd be very concerned about management, personally.