Something big is happening, as Reddit seems to have purged literally every NSFW sub they know. Reason is always "unmoderated" despite some of the banned subreddits being fully moderated.
Edit: seems to have been a bug in automation (thanks @[email protected]):
https://old.reddit.com/r/ModSupport/comments/1ii67mt/_/mb3fewv
It's still a good reminder on how quickly a community (or communities) thousands of people enjoy and in some cases rely upon can disappear.
It did happen before the IPO. It's been happening for several years. They have not been doing mass bans all at once. They've been surreptitiously taking down subreddits over the years. Mostly smaller ones that woujldn't draw much attetnion. Looks like they went for the bigger targets now.
This isn't a sudden change to ideologically align with the current US administration either. They have been at this for a long time.