Their “power” would be relative to other lemmy instances, not absolute.
The comparison to reddit isn’t really fair, as by the time they were getting thousands of subs with more than 127k subscribers, they had been bought by Conde Nast, and were also making money through ads.
These servers don’t just magically run for free, someone is paying for it. And I don’t know about you, but I don’t want lemmy to change in order to appear more appealing to advertisers.