I assume someone’s deleting critical news articles there, or having bot armies downvote them. On Kbin and Lemmy and Squabbles, even on Google News, I see Reddit’s woes front and center.
There was a pretty nasty article on Reuters which I would consider a nail in the IPO’s coffin.
Emphasis mine:
Thousands of moderators overseeing the site’s so-called subreddits are on strike. It’s a wrinkle in Reddit’s plan to go public, and a sign that plan is premature.
When Reuters says that, it means that everyone else knows their schedule to IPO (at minimum) is dead in the water unless they want to have the most laughable initial offering in history.
Long-term, their ability to recover from this seems mostly dependent upon the power users who moderate, and generate meaningful content’s willingness to stick around.
Those who remain indifferent are unlikely to fall within the group specified above.