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Why is this surprising?
There is a life cycle to social media.
Reddit is approaching Myspace levels of out-of-touch. But that's to be expected. Reddit sold out and went public corporation. That means everything that they do is 100% centered around making profit for shareholders. A board of rich assholes listen to the same tech assholes that killed off every single other media platform in existence. Why? To make a buck. To squeeze the penny so hard, at the expense of content, users, posts, subreddits, that the penny squeezes out an extra $0.0000001.
Content is ruined, but who cares? Another nerd will come along and make another one. Businessmen don't care about the content of a bunch of randos. They care about gutting everything and selling pieces of it off for as much as possible, then eventually selling it off to a control-freak billionaire.
So I get what you're saying, but unfortunately Reddit hasn't reached Myspace levels of dead yet. It's still the 9th most visited website in the whole world, and I unfortunately don't think that's gonna change anytime soon
If anything, it’s growing and taking on a new audience. Reddit was semi-niche in the years before, and is now becoming mainstream.
Who's using it? Are they just part of a gelatinous scrolling app crowd that has no demands?