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I absolutely agree on your logic, reddit has lost a lot of valuable contributors, and should therefore lose in the long run. But sometimes reality is weird, and doesn't behave according to even the best theories.
No doubt reddit has become worse, but to really suck apparently doesn't preclude success. Let's for arguments sake say reddit is now full of people with a certain level of intelligence. But maybe people of that like to stick together? And there are a lot of them!
Depends on what we call success. Is Facebook a success? If yes, the I agree, reddit could "succeed," but personally I'd call Facebooks track record a huge failure if we compare it's social standing circa 2010 vs now.
Good point, I guess I meant success financially as in surviving. From a content quality standpoint I think reddit had already been declining for years when the API debacle started.
Debates are generally better here on Lemmy despite being probably only 1% the size of reddit.
I've been pissed off at reddit for years now but only now has there been a viable alternative.
I think they might be better because they're only 1% the size of Reddit. It's impossible to have a meaningful conversation with everyone, all at once. And a smaller website means less social pressure, less corporate influence, etc.