I suspect it's too late to stop much of the madness. Reddit took $1.4 billion in VC money, and like mobsters, VCs like to get paid back without much regard to how it happens. Even if the Reddit workers unionized, I suspect that Reddit's execs would happily fire every union member rather than significantly jeopardize their IPO. After all, Twitter shows how you can fire the great bulk of your staff, treat the remainder horribly, and still have a content site limp along for quite a while without immediately dying.
Ran into a user who shared a screenshot of the mobile app (for unrelated reasons to the topic at hand). They admitted the mobile app 'sucked' yet didn't care.
Apathy is real, and most users have it. Reddit will be fine.
Power users are the most affected here, and power users bring the most value to Reddit.
Mods specifically have always been Reddit’s golden goose. Free content moderation by volunteers is Reddit’s only advantage over other social media platforms. FB pays absurd numbers of humans to do what power users do for Reddit for free.
Unions can influence them only while they're in CBA negotiations unless they negotiate a seat at the table, as in your example, which is not something that is at all common in the US.
And no, I don’t feel bad for the workers because they can (and still have time to) unionize and stop the madness.