As a moderator who did that and stopped, that’s not the case. What it actually was: we didn’t want to go back to Reddit ever again. So, we desperately tried to lift the quality posts and communities from stubborn holdouts to have that quality come with us.
IMO, it was a failure because people were so anti-bot. But that’s why I was taking part in moving everything over from there. I had no financial motives. I was just hoping to 100% boycott Reddit and was looking to draw their communities away from that utterly enshittified platform.