The Reddit protest is over, and Reddit won.
To make an analogy:
A restaurant decides to go vegan because vegetables are cheap, so they can make better profits they believe. (API Price hike)
But obviously now many dishes can't be made. ( Apps for reddit )
So customers protest because they can't get their favorite dishes anymore.
The restaurant doesn't give a shit, and the owner simply walks out to the protesters and say they don't matter, because they will give up anyway.
After enough time passes, people find alternative restaurants nearby but some go vegan, and the protests finally stop.
The now vegan restaurant has "won", or have they?
They now have fewer customers, their reputation has taken a serious hit, and nearby restaurants have become more popular, and the restaurant is less attractive to new customers. So they now make less profits than before, and better profits were the whole point of going vegan!
So unless reddit makes more money or is in a better position to do it in the future, they did not win.