When the most dedicated users are fundamentally hostile to the idea that the social media site may need to limit features for the sake of profitability, it seems likely. Rhetorically the activists here are a step or two away from treating Reddit as a public utility and free API access as a human right. At least until they shift focus to finding wrongthinkers that they want to ban again, then we'll shift back to the usual "it's a private platform sweetie and your presence has negative value" smugness.
You are fighting a straw man you yourself erected. Nobody believes they have a right to reddit but nor does reddit have a right to viewership. They are trying to leverage the value their communities bring to the platform. There is nothing morally wrong with this.