This article really doesn't look good for Steve Huffman or Reddit's investors. Some of my favorite bits:

About a year into his tenure as Reddit CEO, it came out that Huffman was rogue-editing comments that were critical of him...

Huffman chose to compare the moderators who objected to his API decision-making as the “landed gentry”...

Huffman seems confused about his competitors and about the risk factors of community moderation...

Reddit just reopened r/Place, a kind of collaborative art project, which may be a way of gauging the mood. Huffman’s handle on Reddit is “spez,” and you can count for yourself the number of times Redditors have written “fuck spez” on r/Place.