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Reddit risks losing its identity in pursuit of profits
(www.techzine.eu)
This is a most excellent place for technology news and articles.
The blatant astroturfing is what really icked me out. From day one of the API changes, it was clear that Reddit had spun up the spin machine and had begun to misrepresent the issues.
The main one was how they tried to push the "they just want the API for free", "we're entitled to charge for our services" narrative.
The narratives you mention in your last para are completely true, that's what annoys me, IF they had engaged in good faith with users. As it is, it's like a shopping centre that's been free to enter saying "right, it's now €100 to enter and any underwear shops are closed to you unless you wear our uniform."
Just completely crazy prices for a poor service. No shit that's unworkable. Just be honest and say you want to bring those users in-house, just fucking say that rather than trying to gaslight everyone into believing that all these competent developers are all unreasonable arseholes who are screwing you, a multi-billion-dollar corporation over.
There are probably multiple factors going on. First, there is the belief that you can't take away functionality people already expect. Second, while there would be a number of people willing to shell out money, they probably believed a majority of folks would not. Look at what people are willing to put up with at Facebook. I hate it, but most of my friends and family are on it so I'm there. Third, their backers would never approve because of point two.