Problem is the entire concept of a site like reddit being "for profit" in the first place.
I know we all wax nostalgic about the old non-centralized Internet with its various small websites and forums, but one thing I do genuinely miss from those days was that those places existed because the people running them wanted them to exist. They had ads or took donations to keep the lights on, but no one was looking to get rich. Passion, not profit.
The decentralized internet was run more by people, the centralized internet is run by board rooms.
That's why I like the idea of the fediverse. That is why this place feels familiar to those early days.