Are we blaming the people and communities of Reddit or the actions of the IPO-minded business?
It depends on the person, I think. I left Reddit because I was outright disgusted with its idiotic userbase, but plenty people are here because they know that the vulture capital will wreck that place.
And at the end of the day, we might as well ask if both aren't intrinsically tied - Reddit's userbase being so awful because of the business behind it. @z00s@lemmy.world mentioned the "shitlord mods", most of the time the admins behave in a rather similar fashion.