This is (maybe) the “beginning” of the end for Reddit, not the “end” of the end. The big change isn’t Reddit, but here.
When Digg fell, everyone moved to Reddit. When this API situation started there was not an obvious new solution to move to. Lemmy/KBin were mentioned but not readily accepted due to concerns with the content and capabilities of the fediverse. That is changing quickly, and the next time Reddit screws up, we will have much more active communities, quality apps, and fewer bugs.
Ban NSFW posts entirely. Require subreddits to pay to be private. Take over/shut down subs that don’t make enough ad revenue for their subscriber count. Corporate sponsored/run subreddits plus taking over popular subs to hand over to corporate sponsors. New premium currency to spend on enhanced up/down votes (10x effect normal votes, no limit to use on posts/comments). Newer Reddit to replace old and new Reddit. Updated app required to browse on mobile, requires notification permissions to run. Ban subreddit customization. Subs must allow image posts and use chat. Block linking to 3rd party image and video hosts.