I thought the first time reddit did this was at least interesting even if mostly cringey. It was actually spontaneous and there didn't seem to be much botting or admin intervention. Communities had to really rally to get anything done and it was mostly simple art maintained by NEETs and shit.
This iteration is the most blatant, corporate sanitized, bot-maintained shit ever. It's 100% going to be used as a 'look at how hip we are' piece for when they go public. Plus, because your 'contribution' is public you can be a) attacked for stepping in a community's designated shitting street, b) banned by jannies for contributing to anything not fag approved, or c) both. The only good thing that will come of it will be the drama from the inevitable censoring of the final piece right before it ends. Investors are not gonna be interested in collaborative Risk of Rain Huntress Rule 34.