If I'm understanding, it seems the only real concessions being made are maintaining free API access for low traffic users, mod tools, bots, and non commercial accessibility tools.

If they actually make good on their word, that's not too bad of an arrangement. Though I still don't think many devs will trust reddit after this though, the damage is done.

I do hope some of the major apps will opensource and let you enter your own API key at some point.