at this point there is no "walking it back" for many unless spez and a number of employees are removed and replaced. Even then, i dont think I can ever trust the org. At the end of the day thier objectives re:IPO put thier goals in direct contravention of what reddit is or was.
The site simply is no longer able to function as it was, and there is really no way to fix that. They may have simply handed thier business to meta without getting meta to buy them out.