I, for one, am shocked and surprised.
I'm not a big fan of boycotts generally. Most of the time they're performative. But this one seems to have teeth. I hope this goes on indefinitely rather than than having an end date that the owners can simply wait out.
Reddit should not be an expensive site to maintain. It's text and some CDN media, basically. There's no reason it can't run profitably but the owners simply want to extract as much value in the short term to increase the IPO price. Short-term profits.