You might be right. On the other hand, Reddit is already long in the tooth. It is easier for a new company to start fresh, than Reddit to drastically change it

You might be right. On the other hand, Reddit is already long in the tooth. It is easier for a new company to start fresh, than Reddit to drastically change itself (enough to banish its uglier subreddits and users). Nobody will complain that a new network is "selling out" etc. A new company won't have turmoil as its employees (well, the most libertarian ones) quit or push back against new SOP.