This is an interesting take from Louis.
I can't say I fully agree with his view on the moderators blacking out subreddits though - from my perspective, although the users are the primary contributors to the subreddit, the moderators are the ones who curate the community into what it is, keeping spam out and making it an inviting space for everyone.
While it is unfair for regular users to be locked out of their communities due to the blackout, I believe the mods have every right to do so. Some/most of the subreddits participating held a vote in which community members wanted their subreddit to join the blackout too, where those mods could have decided to not allow a vote to begin with.
Personal opinions aside, the rest of the video is informative, but unfortunate. I really am curious as to how Reddit's IPO will go