Here's one way to realize why Reddit should not be taken seriously: Suppose that the head moderator position for r/politics was put up for open auction. How much would it sell for? It would be purchased by someone who was interested in controlling what information people see.
Subreddits are moderated on a first-come first-serve basis. If you were the first one to squat a name 10 years ago, you get to be the head moderator, even if someone else might do a better job. This is the "landed gentry" comment Reddit's CEO was referring to.
I was surprised that r/godot didn't turn into a discussion devoted to Samuel Beckett.