I was a huge reddit user over the years, but now I only go there for a handful of very specific subreddits. That's really it's only use anymore. It's great for that, but they are probably seeing massive decline in usage.
And the moment they basically kill 3rd party reddit apps is the day I barely touch it again.
Even smaller subreddits can be pretty terrible with bad mods.
A lot of smaller hobby subreddits are basically treated as facebook groups, with people treating it as a group for people with an interest and not a focused discussion about that interest,