I don't think Reddit dies here. It will lose a lot of content moving forward, but it still has all that information. And talent leaving will create a power vacuum; people will be crawling to make the next big subreddits and there will always be people desperate to moderate.
From a business perspective this probably won't hurt Reddit much if at all in the short/mid term. Enough power users will stay, meaning that content will still get posted, meaning that regular accounts (lurkers+dispassionate users) would be happy enough, meaning traffic won't nosedive.
Plus, there won't be as many people pointing out bots, so reposts and stolen comments will keep engagement numbers up as well.
From the perspective of people who actually care about the Reddit community, though, things may get really ugly. The quality of content and interaction will be hurt, possibly (hopefully?🤞) irreparably.
I'd love to see what happens to old.reddit.com. When that goes, I'd be willing to bet a small chunk of change that most of whatever power users were left after the change are out. The re-design was so utterly disastrous I'd be shocked if many of the more prolific contributors to the site stick around.
I have to break my habits now of popping open RIF and looking through the subreddits. Now I have to come up with new habits here. Sad days around, and the fact Spez is doubling down despite the protest, yep I am fully done with Reddit.
A silver lining, perhaps, is that kbin.social works extremely well on Firefox for Android. I've been browsing kbin.social since yesterday afternoon, and a significant portion of it has been on my android.
While there's not much content here for now, and sure, things may look a bit tedious, I'd rather this than Reddit's absolutely pathetic video player.
I do feel sad, though. I honestly thought Reddit would be the one to stick. Perhaps not. Oh well.