Knowing what we know now, I'd say the sexism angle holds up. Pao was treated viciously during a short tenure during which she didn't do very much. She was blamed for problems that predated her, like mod support and relations, which had been going sour for years. She was blamed for things she didn't do, like firing Victoria (done by Ohanian). She was blamed for relatively mild and obvious moves to prevent abusive content on the site.
Steve Huffman was greeted as a savior when he replaced Pao. But he has been far more aggressive in curbing nasty content, and done nasty things himself, like secretly editing other users's posts directly in the database. And yet, he is still CEO. And people don't post nasty and abusive things all day about his looks, his sex life, etc.
The Ellen Pao tenure was not the Reddit community's finest hour.