I don’t think people are under the impression that literal harm is being done. “more harm than good” is just a saying. “more inconveniencing the general public rather than damaging the financials of the corporate entity” doesn’t roll of the tongue as nicely.
Personally I think the mass Exodus of content creators was enough of a nail in the coffin. People removing their previously posted content feels more of a symbolic " fuck you" to Reddit than anything else; I still have to visit the page to see it’s been removed, so I don’t know how much is being done. This is just my opinion though, and it’s not my content to police, so people will do what they feel is right. It just sucks seeing a comment that almost certainly would’ve fixed my problem, and not finding it anywhere else, and that comment has been removed. I’m sure eventually the information will pop up elsewhere, but until then people are gonna bitch about it, me included.