You're saying a large percentage of the current userbase won't (probably >90%) However, all users aren't the same. While I did not moderate any subreddits, I c

You're saying a large percentage of the current userbase won't (probably >90%) However, all users aren't the same. While I did not moderate any subreddits, I contributed substantially to several small ones in the way of posts, upvotes and thoughtful content. That's the stuff that really brings value to Reddit - it's the long tail. And even if the percentages are right, if the 5-10% that leave are some of the most valuable users of the site it will have a HUGE effect. There are things about Reddit that are not widely known - the often thrown around stat of a small number of accounts moderating a huge number of subreddits is the tip of the iceberg. There's also a subreddit that you only get invited to if you have over 100k comment karma, called the Century Club. That's been around for a long time. Reddit knows it needs power users, not lurkers that add no value but advertisement impressions. If they are trying to pivot to just become a site where you can infinite scroll memes and focus on the big subreddits, then they're directly positioning themselves to compete with Facebook and TikTok which seems pretty bad strategically IMO. It definitely doesn't bode well for the next decade of Reddit.