this post was submitted on 10 Sep 2023
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There are like 50,000 active users. That is the metric that matters above all else.
People that make an account and never post (which is where that 400,000 number you are referring to comes from) means next to nothing. If the number of active users continues to decrease, then this site will be dead, regardless of what the user count it.
To be fair, that's true of most social media, including Reddit.