It's doubtful that r/altright will have much of a chance at coming back given both the serious nature of the offenses and the historical behavior of the "alt-right" movement itself. As it is, Reddit may be happy to clamp down in this case. It's still trying to strike a delicate balance between its free speech ethos and cleaning up hostile elements that scare away users and advertisers. While it ideally wouldn't have to wait until after multiple incidents before it takes action, this represents a prime opportunity to improve its image.
"Reddit is the proud home to some of the most authentic conversations online. We strive to be a welcoming, open platform for all by trusting our users to maintain an environment that cultivates genuine conversation and adheres to our content policy.
"We are very clear in our site terms of service that posting of personal information can get users banned from Reddit and we ask our communities not to post content that harasses or invites harassment. We have banned r/altright due to repeated violations of the terms of our content policy. There is no single solution to these issues and we are actively engaging with the Reddit community to improve everyone's experience."