This one will pass as they lose substantial number of users and contribute to the growing fidiverse.
However for them, it's not a big deal as the get the following benefits
All undesirable users leave for fidiverse or other reddit alternatives.
The remaining users will be tame like the users of FB, Instagram. Which destroys Reddit as we know it, but the new Sanitised Reddit will be more appealing to investors in an IPO even with less users.
Hopefully this is a turning point and leads to the development of The real Web 3.0, federated version of Web 1.0. (The Metaverse bullshit can no longer be called Web 3.0)
However for them, it’s not a big deal as the get the following benefits
All undesirablesane and productive users leave for fidiverse or other reddit alternatives.
The remaining users will be tamebatshit crazy like the users of FB, Instagram, posting conspiracy theories, lies, flames and other content that gets people riled up, but results in more eyes and more clicks. Which destroys Reddit as we know it, but still generates the income that will appeal to investors in an IPO
Yes, if the 10-15% using 3PA or old.reddit leave I think they are prepared to take that it and carry on. If even a fraction of that base moves over here I'd much rather use this
If that's what they are banking on, they are in for a rude surprise. I am part of the crowd that has never used anything apart from the new reddit web and reddit's official mobile app. Still I left for the fidiverse.
I reckon theres many more like me. Either way, it's good for the internet as a whole. We need atleast some part of the internet that's safe from corporate interests.
Meta verse was the corporate wet dream of taking all of Web 2.0 and making it under an umbrella of just one company. That’s why Suckhercock was pushing calling it Web 3.0 in the first place was to try and get ahead on branding and pretend like he had the next best thing. Billions later and there’s still nothing to show for it other than an even shittier Roblox clone.
I think Lemmy is going to slowly grow, but the Reddit migration was the shot in the arm for it to hit a critical enough mass that it can now grow the user base by more than a handful a month like it sounds like it was doing previously.