“If a moderator team unanimously decides to stop moderating, we will invite new, active moderators[…]. If […] at least one mod wants to keep the community going, we will respect their decisions and remove those who no longer want to moderate from the mod team.”
Indeed, do not undersell the longterm success of this. Also many gloss over of how unrealiable reddit is as a business towards third parties considering annual contracts in the form of subscriptions for their apps. That was a scummy, if not scammy move, no matter the legalities of it.