I think this is a feedback loop for reddit's death spiral. They'll just start blocking/banning NSFW posts or make a new 'policy' thus killing off even more subs. Which in return more people will leave who didn't care about the API changes. Then those who remain will find another loophole and continue the protest which reddit fires back restricting even more and it continues until reddit has lost the majority of its core userbase.

Maybe I am wrong but I am assuming most advertisers don't want to advertise with NSFW stuff everywhere. I feel reddit who is money hungry and refuses to listen to the community will just continue to tighten the grip as they remove more and more mods from subs replacing them with yes men.