Louis Rossmann is a bit of a provocateur, but what he's saying in this video is the bare and unvarnished truth. If Reddit cared about its users and its moderators, the CEO's internal messaging would be less like "this will blow over" and more like "what should we do to meet these people in the middle?"
There is no meeting in the middle when you're up against institutional investors who have put literally hundreds of millions of dollars on the line to fund your operation. I almost feel bad for Steve, he really has no choice, it's just a shame to see him falling into line and reciting exactly what the board wants him to say.
And by the way, this is why Beehaw has so much promise. The incentives of the operators and the users are aligned. There is no third party with outsized power waiting for the chance to pull the rip cord and enshittify the whole thing.