People are treating this as if this is the Reddit of 2011. If you really think this protest is going to stop the momentum of a Reddit IPO payout you are sorely mistaken.
What I DO care about is being able to browse without ads and recommendations I don't want shoved down my throat. They could have done things in a way that preserved 3rd party clients but required payment for an ad-free experience. People would be mostly fine with that I think.