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I'm pretty sure Conde Nast's original investment in Reddit was to develop a comments system for their online properties that increased engagement. I'm also pretty sure that once Conde Nast discovered what a nightmare it is to scale Reddit, they tried to take it open source to make it better and then abandoned the open source fork and hunkered down to fight spam and keep their investment from being pissed away totally. If I recall correctly, Digg had 10 times the staff and about double the viewership at the time of the Digg implosion. If you examine Reddit through the lens of an inundated bucket brigade attempting to keep the ship afloat, their moves make a lot more sense.