I know that Reddit’s content is S 230 because they only have to make a best faith effort to handle illegal content that was reported, and they largely delegate that responsibility to unpaid user volunteers who operate in a largely unregulated environment.

Not sure if this is just badly worded but this is... backwards. They are allowed to do "good faith" moderation because they are protected by S 230. Otherwise it could be seen as an act of "editing" which would mean they are responsible for the content. They don't have to do any sort of moderation at all.