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I left my community of 12 years with >4M subs a year ago, when they killed the API. Without third party tools, my time modding had more than doubled. I spent almost as much time on reddit as I did on my full time job at some point.
I wonder if they don’t even want mods. Just AI/algorithms and ads. What is 100 well moderated, mindful discussions worth compared to a single, well targeted ad?
Honest question: what did you feel you got out of modding? I feel like it would be a thankless endeavor and would bring absolutely no satisfaction at any point.
It started as a very niche community when I joined, so being a mod actually felt like being a "recognized" member of the community without doing a whole lot. And when the sub started growing, keeping the trolls out was more of a necessary chore to preserve the peace, that I did without really thinking about it.
Only once I left I started realizing how much time it consumed. I've signed up for a phd program since I left and I still have more free time despite the research and a full time job. That's how much time it consumed in the end.