I personally want to see more corporate leadership taking responsibility and leadership for backing up their personal views and those of their employees. A good example is how Grubhub's CEO Matt Maloney sent a company-wide email about the culture of the company that I respect quite a lot. http://media.grubhub.com/media/press-releases/press-release-...
Now do I agree with exactly what /u/spez did? Personally, the vindictive part of me likes the idea of fucking around with the morons in that subreddit. But as the ceo of the company, no. If it was any employee that had done it, they would likely have been terminated or at least had a severe write-up, no matter how much the leadership agreed with it. But when its the ceo, I'm not sure what the outcome will/should be.
To be completely honest, we have to remember that reddit is a company and not the public airwaves. There is no requirement that it be a bastion of free speech for all users. If I were running reddit, I would have banned that subreddit months ago. Any users found to be making racist, homophobic, hateful, or any other kind of similar commentary would have been permabanned a long time ago. The internet is a big place and its already too full of negativity. There are no socially positive reasons to provide places for it to fester.