There's already a shitload of bots just copy-pasting comments and reposting old generic pics. I've noticed a huge increase of those over the past few months.
A lot of these issues are temporary. Also, this is all happening very fast, it's entirely possible that some other website/service will pop up that'll be a lot better thought out.
Reddit was already well established and functional during the Exodus of Digg, so there wasn't much discussion about where to go. Today we have no solid alternative, so people are trying Lemmy, Kbin, Mastodon, Squabbles and other websites.
He doesn't see reddit as a community, he sees it as a way to make money. If he comes out of it with a profit, then that's a win even if reddit itself dies.
Reddit will remain but it'll be just a meme page, I doubt if any of the more specialised, specialist communities will stay. It'll be just another 9gag. I've been on it since 2010, I watched it grow and evolve and it honestly looked very reasonable the whole time, progress was for the better. then spez decided to kill it in a few weeks. Over a decade of progress will be gone.
They let corporations submit blog posts (company spam, basically) and they'd instantly go to the top, pushing any normal submissions down into oblivion. Management thought that more ads will get them more revenue, but instead everyone just left.