Very well put! While Reddit as a website won't disappear, and I'll still have my favourite subreddits where I can engage in topical discussions, it's a huge backlash and a hopefully a lesson for the admins. They don't run the site, the voluntary users do. It's like a child pushing the limits to see what he/she can get away with before the parents react. They reached their limit now, and they're not getting away with any of it anymore.