It’s obvious that Reddit as a company has no respect for its users and less than that for the mods. It’s a thankless, difficult job that isn’t even a paid position. I think a lot of us have probably quit real jobs for less bs than Reddit has pulled.
So why stay? Why bother with protests and such when the company has made it clear they don’t value your work or your opinions? Why not just pull out en masse and let the place burn to the ground?
Sunk Cost Fallacy - A lot of mods just can’t bear to give up all the time and effort they have put into Reddit.
Of course, there are better and worse reasons than that too. Just like in any group of people there are the good, the bad, and the other.