Won't work. It's a volunteer, unpaid position. They have no legs to stand on in this case. The only real course of action they have is just not giving Reddit their service at all. Stop going there, stop giving them clicks and traffic.

I have mixed feelings about this. I'd fire many of the bullies.

Good luck to them. I dislike Reddit as much as the next guy, but this whole thing doesn't stand a chance. You do volunteer work nobody even asked you to do and then demand money? How does that make any sense at all?

Yeah, this seems very unlikely to go anywhere other than in gaining media attention (which is a fair aim to have at this point).