Wrong take. Of course you can look at the current needs of niche communities and think copying Reddit is a good idea.

I know plenty of people waiting on it, and multiple building it (including myself).

Does it need to be rebuilt e2e in its exactness? No. But what do people want from a decentralized reddit? It's community control. The thing you're hinting at.

Why can't nostr do moderation better?

All I hear is defeatism in a world that needs reddit clones.