Because they can. Most people’s typical usage isn’t impacted by low uplink bandwidth. Very few people are uploading 4K content or live streaming or hosting a high traffic webserver from their garage. Less bandwidth means less expense, thus more profit. Capitalism, baby.

Both Wired and Reddit are owned by Condé Nast. (Technically sister corps in Advance Publications: https://en.wikipedia.org/wiki/Advance_Publications)