Reddit Was Fun

It's truly a mystery to me how the Reddit execs, investors, and board of directors think that these changes, and the way they've been rolled out, will be good for the long-term health and prosperity of the company. Even short term with an IPO on the horizon, none of this makes any sense. Maybe I just don't understand the nuances of company valuations, IPO's, executive pay, etc., but I don't see how this move makes anything better for anyone involved. I could at least understand them shitting on the mods, communities, and apps if it meant a better payday for the investors and execs (it would be selfish and lousy, but at least I could understand it). I don't understand the wisdom of this in the slightest.