It's worth noting that instead of community management, Reddit has been soft-pivoting to become a new Facebook with features like group chat, new profile designs, and a News Feed-esque view on the official mobile apps.
Incidentally, Facebook itself hasn't solved the problem of its community/fake news, hence the recent algorithmic changes to the News Feed to surface more content from friends, and a public push toward Facebook Groups. To be like Reddit.
They couldn't make enough money with their current monetization model so they're copying the arguably most successful player in their market (FB). It'll be interesting to see how it plays out because of reddit's "anonymity", its lack of real social connections (friends, family, that cute person who sits next you you in econ), or any kind networked apps (whatsapp, instagram, messenger, ...).
Incidentally, Facebook itself hasn't solved the problem of its community/fake news, hence the recent algorithmic changes to the News Feed to surface more content from friends, and a public push toward Facebook Groups. To be like Reddit.
It's a never-ending cycle.