Unsurprising. The immediate effects are big, but the long term effects are going to hit the bottom line a lot more. If nothing else, Reddit has lost a lot of faith in the business itself, because the “product” (us, the user) has all the control.
Smart move of them to redirect away from closed subs to ones still open.
Though, I wonder what's next - pointing to archive.org copies of reddit content before things went dark? Embedding kbin and lenny content to make it look like it's from (and on) reddit? I suspect it's not going to be sustainable.
They are redirecting anyone - they are serving display ads that were intended for visibility within certain subs, to people who are viewing other subs or r/all.