I know you didn't likely put too much specifically pointed thought into your phrasing of 'feels like a communist regime', but please do realize you are describing a hypercapitalist, shareholder driven, investment seeking and profligate monetization enacting regime, governance structure, moderation style.
Reddit is now the Pepsi Ad with cops and protesters getting their Pepsis and singing kumbaiyah... and then the after credits scene is the cops finish their Pepsis and beat everyone's heads in.
This is enshittification.
This is the relentless and ultimately brutish and stupid drive to extract as much wealth as possible out of anything, in a way that actually destroys the thing, manifest in an online message board.
Lure in the user base, lock down the market demographic, destroy competition as much as you can, and then squeeze every penny out of em when they have no alternatives.
Fuck Spez, RIP Aaron.
EDIT: Oh also, you are a lemm.ee user, your instance is shutting down at thr end of June, you may want to look at setting up another user account on another instance.