They're supposedly under 500 employees, which is the EU threshold for small and medium enterprise. They prominently mention their small business status in their post. It's likely that their assertion is deliberate.
Reddit having under 500 employees is beyond ridiculous.. it might be understandable if they were a honorable company that protected people's privacy, but they're the complete opposite, and they even go out of their way to make it near impossible for 99% of their users to download a video on their site (kinda hypocritical).
If Reddit didn't exist and their traffic was driven to niche forums/websites then you could expect hundreds of thousands of jobs.
So it's great that Reddit exists because now you don't have to have hundreds of thousands of people maintaining these small websites and have hundreds of people maintaining one website.
It would be great if they were a honorable company (ideally a non-profit org) that protected user privacy rather than taking great pride in violating it.
And I don't think it's great that you have one site controlled by an evil company and filled with low quality content/discussion about every niche topic when you could instead visit 2-10 websites about the niche content you care about.
Employee count seems like a really bad way to measure business size. A hardware store business with only a couple of stores could hit 500 and still be virtually unknown to everyone but a business like reddit owns one of the biggest websites in the world with an almost global impact.
If Reddit didn't exist and their traffic was driven to niche forums/websites then you could expect hundreds of thousands of jobs.