It's a reference to the book Hitchhiker's Guide to the Galaxy where:

a) the number 42 plays a significant role b) the towel is hailed as the most useful thing a galaxy hitchhiker could possibly posses.

So Don't Panic and don't forget your towel :)

yeah sure. but for the larger communities like r/funny that's gonna take some leg work. You don't just reopen a 40 million user subreddit without a substantial amount of mods. That's not even thinking about the abysmal state of modding tools and death of modding tools due to API pricing.

Really curious to see how long the more popular subreddits will remain private. Surely the admin won't just turn them public again without having any mods, right? I kinda would love to see that dumpster fire.