It's been hard to tell because reddit isn't releasing user retention statistics that are easy to find for other social media sites (minutes per user per day), also due to vote obfuscation it can be difficult to know from vote counts because they could just manipulate the bias.

There's also a lot of established communities around media/internet personalities that are largely unaffected by the changes and unlikely to move without significant fan pressure.

But people go where the content is, last time I checked the top 5 posts on Reddit were under 30k votes and were all tiktoks. That tells me that the content creators and the progressive adaptors have all moved on already, the rest is attrition over time as the service and content continues to stagnate.

The one thing reddit has propping it up artificially is it's remaining position as a valuable information resource particularly for niche topics and especially while the fediverse doesn't get boosted in seo yet.

This isn't far from reality. Spez has his head so far up Elon's arse he's wearing his face.