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Personally I could have lived with the ads but the quality of the subs I followed dipped massively after the mods left or were forced out. The people who left may have been fewer than expected they were the ones creating the decent content and most importantly keeping the worst of the bots at bay.
Hell, I would even have accepted a subscription to be able to use Boost; and I hate subscription based services.
They had opportunity to earn a lot of money and not alienate their users. With profit from 3party apps and companies using reddit for AI data. With realistic pricing.
But Spez (Fuck u), acted like a spoiled vendictive little brat and burned everything down, because of his fragile ego.
Just take a look at the mail and phone conversation, and subsequent lies about what was said; between Spez and the Apollo developer. To see I'm not making this up.