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Precisely.
They don’t care what the users make. They care that user interaction numbers are back up.
Spez is the scapegoat. The ownership of Reddit knows what they’re doing and spez is simply the idiot willing to (poorly) do what he’s told.
Is he really an idiot? He’s making plenty of money, and demonstrating that even the people who hate his company the most cannot stop putting money in it’s pockets.
Reddit would NEVER scapegoat their company president! The very idea!