As far as I am concerned, the goal was to get them to renegotiate the API pricing and restrictions, at the risk of the IPO tanking if they didn't - even if they would have to fire Steve Huffman first.
So yeah, it was a failed protest. If Lemmy continues to grow I'll continue to spend most of my time here, but that seems like it's no guarantee.
... Of course if (as in when) Reddit removes old.reddit then I'll never return there beyond holding my nose when trying to access search results. But 90%ish of the users are already on new reddit/official app and just don't care.