I think it's fine what they are doing.
Look, some people are not switching. But if they aren't going to switch, more negative PR for Reddit is the most they can accomplish. We can speculate all we want about the abstract value of negative PR vs engagement, but at the very least I support this over them being there and silent about disliking it.
The members of a site openly despising the site itself encourages migration too. Keep the attention on how lothesome things are and people are more likely to drift away slowly over time.