I'm cynical enough to believe that the Reddit bettors will be the ones hung out to dry while the hedge funds may get a billion dollar spanking just to teach them a lesson to not let others break the big game.
I’ve read that other hedgefunds not exposed to GME have been providing funding to ones that are exposed. IMO this probably means the exposed hedge funds are making private, off-the-books asset transfers to the hedge funds bailing them out. Not much of a silver lining there so yeah, the GME naked-short hedge funds are getting killed.