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view the rest of the comments
If you nuke the entire thing, you can blame technical difficulties, dropping support for "legacy" products and whatnot.
Whereas if you only delete the offending content, it could mean:
When found out, it could be used against you for consciousness of guilt and trying to conceal it. Even if it doesn't amount to charges it could be a bad look for the company down the road; whereas you could just tank the hit right now for being a heartless CEO and it only goes to the pile of things Reddit is doing for IPO.
But let's say there's no crazy conspiracy behind and they're just trying to clean house. You can never be sure how wide spread it is, or if you can indeed remove everything. Most importantly, why would you even devote extra resources to finding and reviewing for something that adds little to no face value to the main product(s)? Might as well just nuke the whole thing and be done with.
In order to get caught, someone would have to already know right now what the content is. If no one currently knows about it, then no one will know to look.
It's likely what another commenter said about storage, or a performance thing.