Facebook rebranded to Meta and burned $13 billion on the "metaverse" to stay relevant. So, Facebook doesn't seem to think that Facebook will be around forever. Reddit does have critical mass, which is an advantage for them. There's no denying that. But, it's their advantage to waste by being overly aggressive and greedy, which they seem to be happy to do.

As for Google searches, it might be less that Reddit is so valuable for search and more that Google has become so bad at providing good search results that Reddit became the go between. There's a lot of very specific knowledge on Reddit, but there's also a lot of redirects from Reddit comments to outside sources that have the info that a Google search should be able to provide. I don't know if Google has the will to fix that problem though. If Reddit can "get back to normal" and continue being Google's sidekick, Google might be happy to return to the status quo. But, once a company like Reddit adopts the policy that "the beatings will continue until morale improves," it's hard to imagine how they can get back to "normal."