I hope that won't last for long. I made a joke that Reddit was circling the drain with how hateful and political every subreddit was becoming and then they permanently banned all of my accounts. 10 years on reddit, 10 years of putting effort into my posts and comments with over 250k total karma and I was banned for a half serious joke. My appeal was instantly denied as well. It was unreal. After the API changes that was the final straw for me. Fuck Reddit. I was joking before but now I really am hoping that the company sinks.

Could it be because the owners are milking it until it's dead?

I don't think the "investment" in Reddit is the usual "invest in company because it will make money directly", but "use wall st money to give stronger incentives about controlling the narrative than ad revenue was previously able to give".

I bet employees have to agree to a hefty NDA to remain employed there. I hope someone breaks that NDA at some point.