They don't mean that it should never happen, they mean that given the growth prospects of Reddit they should just become a regular business instead of continuin

They don't mean that it should never happen, they mean that given the growth prospects of Reddit they should just become a regular business instead of continuing to try to get a VC return. VC investors indeed try to get VC returns but sometimes their bets fail and that's part of their portfolio theory. The early investors have definitely done well already.