This was a predicted outcome, at least for the larger subreddits. Expect to hear much more of this in the coming couple of days.
Gods of the Internet, with this offering I ask you to summon Cerf, Torvalds, and Stallman so that they may witness this curse. By the spirits of my ancestors I curse Reddit. Let its profits wither. Let its networks crack. Let it see its legions of users disperse. Gods of the Inferno, I offer to you its networks, its mouthpiece, its servers, its "free" speech, its hands, its liver, its black heart, its stomach. Gods of the Inferno, let me see Reddit suffer deeply, and I will rejoice and sacrifice to you.
Welp. Wish I could say I was surprised. Time for the handful of power mods still licking admin boots to get even more subs under their belt, I guess. No way that could possibly end badly...