Comment by hbn

They lost all their users that provided value for reddit as a platform. Reddit will surely continue to flourish as a way to show ads to children and astroturf Google search results for product reviews. But I've noticed a ginormous drop in posting quality since they neutered their API. Even small subreddits that were fairly active are now filled with spam and engagement farming, moderators aren't interested in cleaning anything up because their app to do so is trash, users don't want to post because the subreddit is shit up with garbage. It's gotten bad.