Reddit Island turns out to be a total disaster because everyone starves after too many people waste time arguing over who would get to start the wiki instead of maintaining food sources.
I doubt it would even get that far. The money needed to buy an island large enough to be self-sufficient for a community of people is beyond their means, I'm sure of it. These guys will end up buying a trash island that has good reasons for not being inhabited, if they buy any island at all.
If I wanted to tour someplace that smelled like ass, and had no enforceable laws or sewer facilities, I'm sure I could find someplace a helluva lot closer than an island in the -- where is it now? The Caribbean? The Keys?
If this plan ever gets off the ground, the US is going to end up flying a bunch of malnourished, diseased people out of there within 3 years. Or maybe they'll show up on one of those charity commercials as the 3rd-world hellhole the token minor celebrity gingerly walks through while begging for cash.