Reddit as a company has too much influence and control over the platform for the protests to work effectively on the 'average user'. People have been conditioned over the past decade to accept all forms of exploitation for a small convenience.
I don't think there will be a great migration that people are expecting, but it's a good opportunity for others to start something new. I think the overall adoption will be similar to Mastodon, where it's good enough but nowhere near representative of the Twitter engagement or userbase.