No just misleading.

First because it's web traffic, not all traffic. And the big loss for reddit is their 3rd party app users, which are not included in that figure.

Second, Reddit didn't take a big hit in the window they discussed. The downard spiral began as a warning shot for two days on June 12th.

The real damage Reddit dies to themselves began July 1st.

I'd rather see April vs September numbers. And have it be measuring engagement. How many submissions, comments, etc.

But even then, reddit is losing 3rd party bot detection, and gaining bots. So it's a lot harder to measure than the article suggests.

The apps didn’t shut down until June 30 or July 1.

Second, 99% of Reddit users don’t post content, and the power users were pretty upset and many left. Reddit May keep chugging along for a bit but content will get stale. It won’t turn into 9gag overnight but over a few weeks you’ll see a change.

I don't know that they're false, but they're misleading. Not only was it traffic for June, but the thing Spez will care about is advertising dollars - and as others have said, the more communities are flagged NSFW, the fewer ad spaces can be sold.