I don't think it's accurate to say that reddit has a free speech ethos. Maybe "free speech up until the point where it causes problems with revenue". For example, a year or so ago Reddit overhauled its rules to ban subreddits that were used to facilitate exchanging or gifting drugs (including alcohol and tobacco). However that rule has an exemption saying that advertisements for alcohol, tobacco, and narcotics are still OK. So /r/beertrade gets banned, but reddit will still happily show me ads for some winery founded by MIT grads.

Reddit will also ban subreddits for hosting content that some people may think is "bad", but definitely not illegal. Not that I miss /r/shoplifting, but the discussion itself wasn't illegal. They also banned legal things like firearm schematics and r/brassswap