It all comes down to what you want out of social media. I understand the majority. people don't care. They want their content.
I was never big into social media. I only ever used reddit, and only really got into it recently.
if possible I'd personally rather support a community driven space and let the chips fall, over a profit driven space. That's all it comes down to.
I guess it really is a political discussion in essence, and I've never been much for politics. I just know what I feel, and I don't really miss reddit. This checks the boxes for my needs, even in its infancy.
I think reddit is about bottom line end of day. And given the economic and social context of reddit, and as a newer user, I can't blame them for their actions. I just happen to like it better here. They are capitalist business people, operating in a capitalist setting. I don't agree with their methods, but I don't agree with a lot of things.
How many "I'm not reading all that" comments am I gonna get for this?
I read it! And I agree. Reddit isn't going to collapse. It's going to turn into something else that most of those of us here don't want to participate in, probably lose a decent amount of credibility (and users), but march on kind of the way Twitter has (I don't participate there anymore, either). We are free to leave (so we are) and other users who just "want their content" are free to stay (so they are). "Enshittification" is exactly the right term, though.
I also read it! Couldn't agree more with your last paragraph. Like @flybynightpotato said, Reddit is going to keep chugging along and become exactly what they want it to be. Those of us who didn't like the direction it was going have moved on and are probably better off for it. Personally, I didn't participate much on Reddit because it felt like whispering at a rave. The smaller community here just feels a little more intimate and friendly, and I feel that I'm actually able to converse with others rather than shout into the void.