Another relevant quote from the article:
There is nothing special about Reddit except its community and the content the community created. Its software is trivial. Unless Reddit reverses course, Reddit will join Digg, MySpace, and LiveJournal in the dustbin of social network history, and a new site, such as the user-funded Beehaw, or an old one, such as Digg, will take its place.
I would actually revise that to "Its software is trivial, and in some respects notably lacking."