He’s panicking. His biggest lie is that this protest doesn’t matter and hasn’t and won’t impact Reddit financially. It already has and will continue to do so. You can tell that the people who actually post content worth viewing are here and not there, despite the smaller numbers over here.
In the comments on one of the articles on The Verge about this, someone claiming to be a mod over there said they were reinstated. I know you can’t really prove that, but maybe that’s where this notion comes from?