I mean if they follow your plan and replace the moderators of the subreddits I enjoy then I'm done with Reddit. Reddit can't expect to freeride off various communities and then kick out mods without a reasonable excuse, and this definitely does not classify.
And if they allow popular subreddits to remain private indefinitely then a lot more users will leave than just the ones who oppose the API changes. Better to force communities back open and let the most obstinate users leave than keep them private to satisfy the feelings of that obnoxious minority.
The most 'obstinate' users are the content creators and people actually driving those Reddits. I would hope you're familiar from the history of social media websites what happens when you drive out the users creating content.
People love a good bandwagon too, this will live or die by the PR it gets. People will leave if their favourite community gets messed with and the messaging falls flat, given how tone deaf they have been so far the odds of that are high.
I don't think everyone leaves en masse but I do expect a pretty big impact already, and considering they're attempting to IPO I doubt any of this is a good look.
Force communities back open, how? I've read countless comments over the past few days about how Reddit can just reopen all the privated subreddits with new moderators, without explaining where those new moderators were going to come from.
Curating and maintaining a community takes a LOT of effort, and I'm not convinced it's that easy to find people willing to do it for free. Just think about open source projects and how many have died when the sole maintainer called it quits.
