It all comes down to whether or not the fediverse gets big enough to be a real threat to reddit. If so, reddit will suddenly become a lot more interested in improving their experience. I doubt they'll reverse course on the API, but we'll probably get some perfuse apologies and a real attempt to improve their app and website.

June 12th won't change their course. But I think there will be a much bigger mass migration starting on July 1, and that may be what starts to move the needle.