The problem is some interest groups only exist on Reddit such as r/knives (pre-API pricing change) or r/MechanicalKeyboards. That information just doesn’t really exist anywhere else because of SEO and balkanization.
I think what is at stake is the openness of the internet. If it is ok for Reddit to block the Internet Archive today, then that will be the precedent for something we don’t agree with tomorrow.
And, for example, if you disagreed with the API pricing changes, it might be that you got (or only could get) your information from Internet Archive or Pushshift. That ends with this precedent.