If they destroy the sustainable part of their business right as they go into IPO, that won't look good at all. Also they would need to currate tens of thousands

If they destroy the sustainable part of their business right as they go into IPO, that won't look good at all. Also they would need to currate tens of thousands of communities, many about niche subjects, in a variety of languages. Reddit simply does not function without the community moderating itself. Even Twitter relies on the community to add warnings under tweets at scale.