My unpopular opinion is Reddit is making the right move and likely their only move. Moderators got what they signed up for and once a community was created and they owed it to their communities to hand over the keys when they ‘quit’ in protest. In the end, anyone unhappy with how Reddit handled the API situation should have walked instead of sticking around to watch Rome burn.
Admins are employees of reddit.com. I think you're talking about moderators, who are the volunteer petty tyrants that have always been the worst thing about reddit, and they are the ones "going rogue".