Reddit has been gingerly grooming itself for an IPO for a couple of years now. But there's no doubt that NSFW content is still a driving force of its userbase and content generation. I'd estimate that porn is 60-70% of its new content on any given day, probably half of which passes moderator review and makes it to subreddits.
This leaves them in the same predicament as tumblr and onlyfans --kill porn and it'll decimate their stats & userbase.
OTOH, it *may* be that advertisers and investors are learning that they may have to keep the unsavory parts to get the eyeballs they crave. I'll note that when GM introduced the Silverado EV this past week, they blanketed the general subreddits with ads.
The aftermath of the IPO will be interesting.
