Reddit is trying to clean house and go public. They've proven they'll get rid of mods already so it shouldn't be about mods playing nice to avoid being replaced (there's a good chance that's going to start happening regardless sooner or later). I'd say it's better to get the point across that reddit has a shit policies, a shit CEO, and is removing mods.
I understand that you see it as obey or be removed, but it's going to another shittier alternative next time if reddit gets it's way this time.
Reddit is already spinning it as a 6% drop that lasted less than 48 hours. They don't care what a sub is doing, as long as it's active it will be helping them in the long run.
I'd love to see a mass migration away from reddit and I think the most disruption possible should be in order. A mass walkout of mods and a some spam would do much greater damage than memes.