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I guess they couldn't replace all the mods and re-open all the subs
(old.reddit.com)
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I imagine there are thousands of subs with 1000-5000 subscribers. Sure they keep the biggest subs open but it's quite a loss.
For whom? For Reddit? Not really. I mean, in the long term it is, but corporates are about maximizing short-term profits.
Why pretend we never measure value in things other than money? It's obviously a loss to the user experience for those who haven't moved to offer sites, and a loss to the knowledge base that users had built there. I think you know that's what's being discussed here, yet you're only countering from reddit's productive of what would constitute a loss... for some unimaginable reason.
The unimaginable reason is that the OP, which I replied to, claimed they couldn't replace all mods. My counter point was that they don't care about replacing them for small communities, because that's not what makes them money. Hopefully I've broadened your imagination.