Some people are dedicated and like working for their community, the work being its own reward. They may be worried what would happen to their community if they leave (and new mods are appointed by the overlords) which is a real concern for many, especially the more niche ones, I think. Recreating those communities elsewhere can be tough (and no, Lemmy / the Fediverse isn't an alternative for everyone yet, not least because of the relatively higher initial investment into understanding the structure). They may feel like there is still is hope, they don't want to abandon ship until the bitter absolute end and I can respect that. Some people may also simply like the attention (we are talking about mods here after all ololol mods ghey).
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Probably because it's hard to quit all of the sudden. They put a lot of effort in mantaining a community and to let it go is hard...
They don’t want to give up their powertrips
The cynical answer would be that moderator privileges on reddit are likely to attract power seeking users and it's unlikely that they're going to want to give up their influence for the sake of an improved user experience or sticking it to the man
Wouldn't it be more effective to simply delete whole subreddits en masse? Not only would that spit in spez's face, but it would drive many to other sites like here. Or am I missing something on account of being a low tech old fart?
I’m pretty sure you can’t just “delete” a subreddit
They like the position of power over other users and it's worth more to them than being treated well by the platform.
Some people, believe it or not, think that being a mod on a subreddit makes them cool and interesting. In reality, it makes them look like a bozo.