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"Eligible contributors that earn enough karma and gold can get paid cash."
It's dead, Jim.

Stick a fork in it.

The idea of revenue sharing for community generated content; in itself, might well be workable and even necessary for the long term health of the internet and the public discourse.

The people at Reddit have shown their utter lack of fitness to be the stewards of any part of such efforts, mostly via their repeated demonstration of contempt for their users and the communities those users built and cherish. I'm sure there's many other reasons to slag on 'em that I'm unaware of but that one will serve, all by itself.

How about the fact that it's been less than two weeks since they destroyed the old coin system that countless users had paid into and/or earned tens of thousands of coins from, without providing anything in return? Seems like a bad idea to solicit free content from users immediately after showing how little you value it. But this is Reddit Inc. we're talking about.
Selective censoring, double-standard policies, no path for redress, mob rule and groupthink, moderator abuse, opaque CoCs, etc.

What could go wrong?