There are a lot of people who find Reddit useful and aren't really interested in the politics of it. As the site fills up with spam and hate because mods are gone, more of the people who just enjoy the site will leave. Unfortunately by then the the IPO will have happened, people will cash out and start the next thing. I don't think the leaders at Reddit really care about anything except the money.
If they do care they are really going about things the wrong way. For me, I really hope we can switch to things like Lemmy and Mastodon that are not controlled by corporations or advertising.
I really hope we get a great community here like we had (in places) at Reddit and Lemmy thrives. The great thing about non-corporate entities like this is that nobody needs endless growth of users and participation to satisfy advertisers and investors, a small group of great folks can be enough. Call me idealistic, but I am hopeful smaller communities of like-minded people can find each other and make a place that is fun.