isn’t this kind of like Netflix offering shares to the subscribers who stream the most

Not really, because a Netflix subscriber is purely a consumer of content. Someone who posts on Reddit is contributing real value which can be profited from.

A better comparison is the difference between a "Bank" and a "Credit Union". A bank has customers and shareholders. The shareholders profit by selling services to customers. With a Credit Union your customers are your shareholders.

Credit Unions don't sell services... they use the account holders money to pay for services which provided to account holders. They also use the account holder's money to invest and earn profits. Those profits are returned (in full, minus operational costs) to the account holders in the form of interest rates based on the amount of money in each account (banks do that too, but credit unions usually have better interest rates). PS: if you have an account with a bank, you should probably consider closing it and find a good Credit Union... especially in the modern world where transactions are online and you don't have as much need for cash/etc (banks tend to have more branches).

It seems like Reddit is planning to be somewhere in between. With shareholders, and customers, and "customers who are also shareholders". Maybe it's something the we should consider over here in the fediverse... because I certainly don't trust reddit's leadership to do anything good with the content I provided for them (which is why I deleted it...)