There already is a decentralized Reddit where subreddits are called websites and anyone can start one and run it as they please.
What Reddit and similar sites bring to the table is a single pool of authenticated users. Once a user is logged into Reddit, posting on different subreddits is frictionless. Even with oauth and the like, it is hard to replicate that with a distributed set of sites.
What Reddit and similar sites bring to the table is a single pool of authenticated users. Once a user is logged into Reddit, posting on different subreddits is frictionless. Even with oauth and the like, it is hard to replicate that with a distributed set of sites.