Developers already pay Apple & Google 30% for the privilege of being in the app stores. Is it too much for the very service that is powering your entire app to ask for their own cut?
Mind you that price is just part of the problem - the 30-day to start charging, was just as bad. It's absurd and completely made to kill the 3PS. Maybe if they have maintained the price but gave time for apps to discuss/adapt/replan, they could have found other options.
I use reddit 80% on the web, 10% on iOS and 10% on Android. I’m not going to pay reddit that full $2.50 (plus app store cut) for 10% of my usage twice. I’m just going to stop using reddit on mobile and stick to the web.
The “pay for reddit premium and get ad-free reddit plus unrestricted third-party app use” model makes more sense for users, for third party apps, and for reddit.