Google would probably like to take over the user generated content somehow. If people can find it on Google even when it is not available on Reddit then it is pure profit for Google
All they would have to do is start Deja News (the most famous free Usenet server and archive) back up. They could do it tomorrow if they wanted to. And I guarantee you it would be talked about on /s/redditalternatives and /m/RedditMigration