Only one thing that is kinda a positive from imgur doing this wipe out is all the questionable stuff hosted on there going way back used on chan boards, with the various archive sites keeping those threads lingering about.. that'll be a cleanup of a lot of stuff since highly doubtful that any of the uploaders would of used accounts to upload such.
But doing a total wipe out of what frankly is a lot of internet history, shouldn't be at that cost that the kinds of bad shit that got hosted is now being taken down after being badly moderated.
Though ofc, it's never going to stop bad stuff being hosted that'll just go to other places instead, but Imgur having been an enabler, not good. But again, it shouldn't be at this fricken cost that all that gets removed.