They’ve told the media that they are actively planning to remove moderators who keep subreddits shut down and have no intentions of making changes.
So, moving forward, we’re going to run IAmA like your average subreddit. We will continue moderating, removing spam, and enforcing rules. Many of the current moderation team will be taking a step back, but we’ll recruit people to replace them as needed.
That doesn’t sound to me like they’re quitting, that sounds to me like they’ll protest but support Reddit for as much as it takes to still be moderators.