It’s not the past actions that will slowly strangle reddit, but the future ones. It will certainly be there, these things tend to stick around far, far longer after they’ve turned into shambling zombies of formerly-good content. But it’ll become a revolving door running on reputation more than any kind of quality product.
Obviously in our free world, people are free to enjoy the garbage and some will. But it creates an opportunity for others in the market, like us, to make a quality spot again, and pull users with that.