Article from August of this year (not too cancerous once you get through the first two splash screens).

Reddit shares DROPPED despite increase revenue. Why? Objective signs of enshittification:

• declining active user base
• massive increases in revenue.

People are leaving so the ones that remain must be more heavily monetized, which leads to more people leaving--the enshittification death spiral.

Reddit will no longer be reporting logged-in users as a separate metric lol