I don't get the need for all these tech companies to prove their "wit" by trying to out do each other on 4/1. Then the tech blogs all rush to cover the various 4/1 "jokes"

Reddit's version was more like an excuse to do something fun. It would just be weird to release that on a normal day. But on 4/1, it was a blast.

Creative people like creative outlets.

Creative outlets that you can share with others are also rewarding.

except none of these april fools efforts are funny.. developers are not comedians. most of their crap is cringe worthy

Your post answers itself. It's to get free press and to engage your users.

If a company can get a 10X rate of return on an April Fool creation, why wouldn't it?