There’s a small but real chance that this movement turns into a mass exodus from reddit. Mismanagement can absolutely kill social media companies, and when it happens it happens fast. Take the mass exodus from FreeNode as an example. The thing to watch for is if the admins take control of any major subreddits. That’s what killed FreeNode.
E.g. fandom is doing as good as ever despite many leaving in protest events.
Time will tell which this is.