Many of the moderators are very much paid. Some work for the companies that a subreddit may be centred around, others get kickbacks from those looking to promo

Many of the moderators are very much paid. Some work for the companies that a subreddit may be centred around, others get kickbacks from those looking to promote products and my favourite are the state actors who help to ensure certain viewpoints dominate. But of course Reddit has been happy to turn the other cheek to all of this over the decades. Anything goes so long as it doesn’t end up in the media.