Yes, Reddit is being gamed. The question as with any system is: To what extend and how does it compare to alternative systems?
The capital that is most relevant on Reddit is status. It is very easy to have people participate in Reddit, which makes it inviting enough to start building status but it's somewhat harder to actually do. Users care about their status and about their communities and Reddit combines the two in a nifty way, that already gives provides some slid resistance against gamification.
Sure, you can infiltrate the system with any/or a lot of accounts, careful VPNing, lucky/clever reposting and also keep the guise up (you must, since your portfolio of both content and accounts is under constant review, as long as it remains visible). To get a highish ranking article on google I mostly have to write what feels like convoluted infomercials (or maybe let GPT3 do it for me). There is an industry of people being paid to do so. All it takes is one mediocre writer and some time.
To me, the former system seems very brittle and expensive to game, the later much less so, specially since the prevalence of convoluted writing for SEO purposes make the distinction between SEO bullshit and expansive content increasingly difficult: People are getting used to informercial type content on the web and so it is increasingly what they learn to expect. And we give the people what they apparently want.