I mean, yes and no. It's the same reddit from six months ago yeah, the vultures hungry for an IPO and who don't give a fuck about users.
The change in font actually speaks massively to a huge change in how reddit functions, and this has been a slow, gradual change.
Reddit was originally an all text site. The name fucking implies it.
"Oh did you see that link?"
"Yeah, I already read it."
The pivot to sound and video has been going on for a few years. The logo still referenced the text-heavy nature of the site by being stylized as text you might read on a website. Now it is clearly a logo that has dropped that pretense entirely, as they have said "fuck people who like to read," we're here for eyeballs on screens, and video is what makes that happen!
So yeah, it screams a huge change in direction that's been happening for years now. They're just updating the branding to match the site direction.