I am dismissing equating protecting vulnerable minorities with the allegory of George Orwell's Animal farm, where the ruling class was enshrining privileges for itself.
Yes, the "ruling class" of social media is enshrining their privilege to say nasty things about white men and women.
Banning "hate speech" would be less disturbing if it were done fairly, but so much of the content on reddit is hate speech that I'm sure that won't happen.
By adding the caveat "the rule does not protect groups of people who are in the majority", reddit admits that anti-white racism is a problem on their site, and says they've decided to allow it.