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I don't think the API cost will kill reddit but I think that this is the first of many changes coming to try and boost revenue. I have a feeling that old.reddit is next and then probably a lot more ads. It'll be the culmination of all the changes, each one frustrating different groups of users.
@pinkraisons agreed this won't kill Reddit per se, but it's a death knell.
As you point out, it's likely only the first in a series of revenue generation initiatives.
Why you would start with the one that alienates a lot of power users and mods is anyone's guess; I suppose it all comes down to ads.
Welp, I've used Reddit more than I care to admit for over a decade, and I'm gone now.
@majkeli it feels like young Reddit,or maybe that's the rose-tinted specs...
@Magrath
Here's hoping! It's the niche/hobby subs that made R special. It'll take a while for the fragmented instances to conglomerate, if they ever do.