It's hard to even say what the aim of reddit's community is. At least on the defaults, it's so starkly divided between voting a certain type of content to the top, and then nearly every comment lamenting the same post, saying things like, "Who votes this crap to the top?" I'd describe the phenomenon as online doublethink or at least a collective cognitive dissonance. It's really frustrating to see, more so to moderate.

In more regards to the topic at hand, it's definitely acceptable to promote your own content on reddit, depending on what type it is and how you frame it in the title of your post. Videos and pictures are typically accepted without much framing beyond "I happened to perfectly time this picture" or "I'm a film student and I spend 100s of hours editing my senior project." Personal blog posts, on the other hand, are loathed. It's written into the "constitution" of reddit that they're disallowed.

I don't get the hate because comments this day in age essentially resemble blog posts. I've even converted posts from my own blog into comments with great success. They got "best of'd," several people gave me gold, and tens of thousands of people read them I imagine. Whereas if I'd just linked my blog, everyone would see me as a self-centered user trying to get attention for my own content.

So yeah, framing your own content correctly--or perhaps masking it correctly--seems to be the biggest factor, not whether or not you created it.