Will a chunk of users stay off the site permanently? Maybe. Will Reddit as a business be better off without these users? Also maybe. There's definitely a case to be made that the community would benefit from more casual participation minus power tripping and over moderation from the top 0.01%.
there clearly is a gulf between people who actively wish to make it so and those who consume the byproduct of their effort.
This line of reasoning goes nowhere.
If you think the solution to blocking a sub (or all of Reddit) is "a hundred million people can just all decide to go somewhere else the next day", you fundamentally misunderstand how the community and network effect works.