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I don't think that they're trying to save Reddit; the "conserving Reddit" part is likely a joke. Instead I think that they're genuinely joining the protest, through noise instead of a simple blackout.
For reference: r/worldpolitics did something similar in the past, although I don't remember what they were protesting about; there was more porn there than in r/gonewild and r/hentai, seriously. Eventually leading to the formation or r/anime_titties to discuss world politics.
I’m not really sure if I’d say they’re joining the protest, the memes being posted there are the sort of things their users want to see.
r/WorldPolitics wasn’t really protesting much. They just didn’t have mods so people took advantage and it never bounced back, rather than try to fix it people accepted it.