Dave Rosenberg thinks it is the right choice:
1. It's one of only 3 OSS licenses that take the "network" into account (CPAL, OSL, AGPL) whereby usage can be considered distribution.
2. It doesn't require that code be given back
3. It enforces the brand of the developer (in this case Reddit) which actually has some benefits.
With enough projects licensed in practice, it would be good to prove out that none of the negative theory has come true.