They absolutely will, but I wouldn't expect those mods to actually be good mods. I've been in multiple subreddits where a new mod would be assigned because the current ones stopped being active and they'd wreck the subreddit. All posts require approval, sub topic changed, any criticism of the changes met with a permanent ban, etc.
For a company wanting to go public, having users banned from some of the most popular subs, the same subs that rely on said users to publish content, Reddit may as well have shot itself in the foot.
When the corp has relied on the good graces of users and mods to effectively run the site, both by providing the content AND moderating the content, any change to that status quo is going to be met with open hostility from the top 1% contributors.
