A thought came to my mind when reading your comment.
Instead of finding a new home, let's make lemmy our new home. Let's try to populate lemmy more, get its activity up, and post more than we would've on reddit (since we have less users, we would need more posts per user), so it can stand a chance at being a reddit competitor.
On the one hand, this does seem to be a case of spinelessness. On the other hand, having mods who are aware of the protest and also in on it is better than having them replaced. All the subs going the way of malicious compliance (ie wellthatsucks turning into a vaccum cleaner subreddit) will need mods who are in on the protest.