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No idea what the overall timeline would look like, but I don't see how Reddit's current trajectory leads to any play other than hiring mods for the top N subreddits (which they probably have reams of data showing are responsible for a huge percentage of their ad impressions) and making the rest read-only. A bunch of subreddits have already explicitly announced that they're shutting down if they can't use third-party apps to moderate, there have been many more general complaints about the inadequacy of the official moderation tools, and it seems like the company simply doesn't care.