I went on Reddit yesterday for the first time since the strike, whilst trying to debug a code issue. Almost every post from years old questions had the replies deleted by the users. I think the real damage will be the deletion of content and the change in tone from redditors. Most useful discourse will be gone and it will turn into a place only for arguing, memes and shit posting. Advertisers aren't going to want to pay to advertise on low quality content like that.