This is all nice and good. Unfortunately, it means absolutely nothing. Since we know that lying is (by law) part of what corporations are forced to do when addressing questions of "national security", no amount of denies, press releases, public outrage or congressional talk will restore trust. Even new legislation specifically forbidding snooping will not help, since we can never be sure that there is no "secret legislation" specifically allowing it - and forcing companies to comply.
I am sure lots of people want to genuinely change the situation in the US. Unfortunately, we can not believe it. For all the talk that the reddit co-founder will, as a private person, make, the simple question to reddit-the-company: "are you snooping on me" has no meaning whatsoever. Either the answer will be a "no comment", or it will always be perceived to be lie.