It started as an April Fools event. Reddit used to do unique April 1 events. This one was popular. Makes people make accounts so they can have another pixel to place. Makes coalitions. You would see flags between two countries defending each other.
Then they brought it back for 2022 because they're out of ideas. Here's the timelapse, it's pretty interesting: https://m.youtube.com/watch?v=K5O3UgLG2Jw
I've seen comments that this is just a desperate bid to increase engagement before the IPO. So while it would be funny to put the logo on, it's engagement nonetheless.
PlayStation of all places has this. I will often turn it on just to see if something is available on one of the services I share with family. Then I turn to sketchy streaming sites or the public library.