I'd be glad to see some changes, but I'd be pretty concerned to see a large part of big social being nationalized and run by the US government. Especially with one of the USA's two political parties openly supporting fascism.
I think the best thing we can do right now is work on alternative platforms and protocols that do not rely on tons of VC money to stay afloat.
Somehow I feel like Spez himself has made a lot more money during this time than 3rd party developers. Despite Reddit itself not turning a net profit.
Regarding the 500 arbitrary half dead Cat communities, I wonder about expecting hosts to monitor the communities they are hosting and removing them or archiving them in some way when they die. And if a host is not doing so, that could be considered poor moderation on their part. Not a complete solution, but maybe of help?
At best DAOs are simply an extension of shareholder capitalism with less regulation.