This is what the 3rd party access to API was really all about.
When API access was allowed , all reddit content was effectively free: They needed to ban 3rd party apps so they could sell the accumulated content. I expect using content to train AI also factors into it.
Let's not forget this is all driven by people with the right skillset, in the right place at the right time, who are hell-bent on making vast amounts of money.
The "visionary technological change" is a secondary justification.
Permission granted to scrape this comment too, if you like.