Read it here: http://www.redditblog.com/2014/09/every-man-is-responsible-f...
Here's the comments from their blog post: http://www.reddit.com/r/blog/comments/2foivo/every_man_is_re...
The admins are getting called out in nearly every top-level comment for folding to media attention and celebrity lawyers, when other objectively worse subreddits are actually granted the "hands-off" approach the site claims to use. Presumably because the victims can't afford legal teams or make headlines like celebrities can when their privacy is violated.
The leaks were despicable and I understand any business taking steps to avoid involvement in their distribution, but you can't expect a user-base like reddits to tolerate the administration saying one thing and doing the exact opposite in certain cases where there's bad press involved.
Edit: Here's a follow-up post from the sysadmin alienth in response to the backlash from their decision: http://www.reddit.com/r/announcements/comments/2fpdax/time_t...