It's obvious that Reddit as a company has no respect for its users and less than that for the mods. It's a thankless, difficult job that isn't even a paid position. I think a lot of us have probably quit real jobs for less bs than Reddit has pulled.
So why stay? Why bother with protests and such when the company has made it clear they don't value your work or your opinions? Why not just pull out en masse and let the place burn to the ground?
As a (soon to be) former reddit mod, reddit moderators are all power hungry. Modding and feeling like they're important is a coping mechanism for many of their lives.
Maybe a big chunk of traffic is modded by that sort of person, but not 95% of mods as individuals. So many "smaller" subreddits are modded by people that give a damn
I personally never had an interaction with any mods, but I can imagine it being much like any other position of power within any type of human interaction. But, Tbf, the job is prob a pain in the ass, and I wouldn't want it.
I got shadowbanned from the entire site once from pissing a mod off. I wasn't even being combative or anything I posted a link to dispute misinformation and just said "That's wrong though. Here is a link from the Mayo clinic explaining it" and got banned. No warning, no message, nothing. I had to make a new reddit account conpletely i couldnt upvote or comment on ANY subreddit after that. All for pissing off a mod. I hated how much power they have (had?)
It's also just addictive. I don't think all mods are "power hungry" in a bad sense - certainly many of them mod communities well and responsibly, but most of the ones that put in a lot of time are hooked to that community for one reason or another - either it gives them a sense of accomplishment or it's comfortable and familiar or they just feel valued there. It's easy to slip into that trap.