The problem is isolation.
Usually those are isolated, which means that it won't get neither exposure if it's actual a good thing, nor backlash if it's bad.
That's the problem with "infinite" divisions, you get those very little bubbles.
Try imagining that you're hosting reddit yourself. Pretty easy to see what the problem is from that point of view. Do you want to be hosting and enabling child porn, hate speech, terrorism, etc. etc.?
I'd like people to remember that some people's terrorists are other people's freedom fighters. Same thing with hate speech. And the age of consent is not the same everywhere: maybe (I hope not) people against child porn will be labeled bigots somewhere one day.