We just don’t smell the rot yet. It’s not about the actual body (website) and the name. It is about the spirit, the personality. And that has been compromised and killed off because of factors one could call enshittification or whatever. Digg and Tumblr still exist, at least in name, but not in spirit. I think Reddit has past that threshold. It will be a slow death and I am not sure the fediverse will fill the void it leaves behind. But I do think and believe communities will never sustain on venture capital.
It started as a pedestal for Free speech by one of the founders. But spez just nuked him off the website after his death. Reddit is nothing it once was. It’s a corporate, just like every other bs app.