The reddit admins have made a policy out of basically never intervening on the site - how ever egregious the transgressions are - so the inmates have slowly taken over the asylum.
There's also something to be learnt about this on HN. :)
I think reddit as more of a platform than a community at this point aside from the hivemind and reddit memes going on there. I'm sure it's still an interesting place to create your own subreddit, if you have the time to moderate it (although you can't IP nor e-mail ban people from it).
It always did, and it always got deleted and the people were banned. The problem wasn't just the content, but the fact that some people took over the mods in a "coup" and were trying to fuck it up. Of course the CP wasn't deleted and they had to act.
They still could've deleted just the CP and restored the mods, but considering they had already moved to r/teen_girls, that probably wouldn't make much sense.
There's also something to be learnt about this on HN. :)
I think reddit as more of a platform than a community at this point aside from the hivemind and reddit memes going on there. I'm sure it's still an interesting place to create your own subreddit, if you have the time to moderate it (although you can't IP nor e-mail ban people from it).