I see a significant difference between AOL and Reddit. AOL selected the monitors and had the power to remove their privileges. That's what made them essentially

I see a significant difference between AOL and Reddit. AOL selected the monitors and had the power to remove their privileges. That's what made them essentially employees. Reddit moderators are mostly self-regulated. Even in the large subs new moderators are chosen by other moderators and rarely is a moderator of a sub involuntarily removed, except if they have abandoned the sub or violated the terms of service. I can see how Reddit is not obligated to pay them because they volunteer by their own will and not at Reddit's discretion.