Especially since there will always be another group of investors that are currently on Step 1.
If Reddit's experience starts sucking once they try to monetize, there will be no shortage of people who are going to offer a superior (i.e. non-monetized) experience with the intent of somehow monetizing The Right Way in the future. Wash, rinse, repeat.
If Reddit's experience starts sucking once they try to monetize, there will be no shortage of people who are going to offer a superior (i.e. non-monetized) experience with the intent of somehow monetizing The Right Way in the future. Wash, rinse, repeat.