Twitter isn't allowing posts to be viewed if you're not signed in, which is now resulting in Google removing Twitter links from search results. That alone is doing more harm than any other stupid moves by Musk. Him implementing caps on user activity doesn't need any further elaboration.
Reddit is going to have some dead links that might deter a small percentage of potential new users who find them through a Google search. I think we'll get a better picture of how reddit will move forward after they replace mods and reopen large subreddits.