I wonder if u/spez ordered this hack so he can back off and save face. Of course I don't know the context but that's the first thing that comes to mind.
Nah, reading this no this hack is personal. They hacked this site months ago and now they're coming in here looking the heroes of the story? No, they were ignored. The hackers got pissed and now they're using this as an opportunity to get back at reddit. So what, they got maybe a terabyte of decompressed data at most, and they want 4 million dollars? This feels like some script kiddies utilizing a bad situation after getting ignored, not a professional op.