Perhaps, but what Reddit chose to do is not consistent with its stated reasons. A simple change to the terms-of-service and/or some rate-limits would deter those large-scale (and sue-able) AI companies, until Reddit could introduce some sort of "machine-learning tier" of API access and charges.

Instead they announced punishing fees on everyone and everything with barely any warning. That looks a lot more like a general push for blanket monetization. Their "nasty AI learning made us do it" statement looks more like a convenient excuse to deflect user-anger while simultaneously getting their company name in the news right next to hot buzzwords.