this post was submitted on 08 Jun 2023
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Summarized from a recent call between Reddit leadership and some Reddit-partnered moderators/developers, there will be free non-commercial API access. As you need to provide your own credentials to authenticate when using PRAW, if you qualify under whatever is ultimately defined as "non-commercial use" you may continue to use PRAW.
Now, as to whether Reddit's recent actions bode any confidence for you in putting into any effort leveraging their API and/or other tools, that's a separate (and probably worthwhile) question to ask.
Whether PRAW's maintainers want to keep PRAW maintained in light of these announcements is also a separate question too.