I'm giving the most plausible scenario. They don't need a mod from r/pics to take over; they can use anyone who is power hungry enough to do the job.
Not saying I like it, or agree with it, just giving the most plausible option for Reddit to take at this point.
Because, let's be clear about this, Reddit is winning this battle even if they won't win the war. This overall event spells the end of the site as we know it...or knew it. The malicious compliance, changing to NSFW, the broad interpretation of the rules...it doesn't matter. Reddit is going to win this, or appear to win this in the short term, even if it entirely kills their future. They'll kill a 20 million subscriber subreddit to do it if they need to.