Reddit

Do you mean the u/spez who used to be a mod on r/jailbait?

Fuck u/spez.

still making enough ad revenue

Depends. The John Oliver type of stuff certainly doesn't hurt Reddit's bottom line (nor does it bring any ad revenue, no advertiser is interested in seeing his ads there). At least one could argue that it brings media attention and contributes to trashing Reddit's corporate image ahead of their IPO. But the subs that are turning NSFW are definitely hurting advertiser revenue, since Reddit cannot display ads on those subs.

I think it's important because while it might not seem to do much now, over a longer period of time it can be handled in a way to effectively dissolve the community there while potentially pointing to an actual alternative