Seriously, _what_ are they gaining by eliminating access to third-party clients? If they want usage data, they already have all the API calls. If they want more ads, they can change the APIs to inject them.
Their ads platform is damned near useless compared to their competitors. It's a wonder they have any revenue at all.
Their moderation is wildly broken, frequently leading to blanket account bans of anyone participating in a thread close to content deemed inappropriate.
Participate in a well informed debate on monetary policy, but some idiot downthread went on an anti-semitic rant?
Your account will be banned. Your ip address will be blocked from creating additional accounts. You will receive a link in a message to the message you wrote for which you were banned, but since it was deleted it will be a worthless link. You will receive a link to a form to appeal your ban, which goes straight to dev/null.
Worse, they use browser fingerprinting AND IP.
It's your email, social account, ip/location, browser fingerprint info, search terms, information from their partners (ad networks, apps) and cookies, subs you visit, what you upvote/downvote/save/report, which page on reddit you're coming from/going to, etc. They use these to then determine blocks/shadowbans/counteract your votes and so on.
Has this resulted in a substantial quality increase on reddit? Oh absolutely not, you'll get chatgpt bots, people harassing you, completely unrelated comments, report abuse, etc. but they'll never give up that much data.