When the dust settles, it'll be just like Ma Bell in 1975: There will be the "Internet Company" just like there was the Phone Company, with a probable 'bonus' of an extra "National Internet Corporation" modeled on the BBC.
The SEC or FTC or someone should sue Reddit for using the word 'decentralize' in connection with a feature that's only available within...Reddit! I don't care how many 'blockchains' and other buzz-terms they surround it with.
Nothing on Reddit can be proved to have come from a "user", and it's been that way since the "Great Spezzing of 2016", where 'spez' admitted to falsification and alteration of 'user' content.
Suddenly it's 1960.
Microsoft, Apple, Amazon and Google have replaced ABC, NBC, PBS and CBS.
Your "~~personal computer~~ internet appliance" is a black-box running rented software, just like in the 'dumb-terminal time-sharing' era.