I'm having a hard time gauging how f'd Reddit is. Seems like half the people on HN either think it's dying or thriving. The redesign has been meet with, at best

I'm having a hard time gauging how f'd Reddit is. Seems like half the people on HN either think it's dying or thriving. The redesign has been meet with, at best, mixed reviews and their IPO has stalled (yet still looks to eventually happen) with its valuation declining. What is really going on over there?