Way back when r/the_donald just started when his campaign began, many people including me thought it was an ironic subreddit and treated it as such. Then suddenly Trump gained momentum and the subreddit turned out to be for real.
That's definitely also my impression. The only point against that theory is the moderation. I don't think someone who started that as a joke would let it become what it was at the end. unless maybe someone related to the Trump campaign bought those accounts of course.