It makes sense to think of Reddit as an application rather than a company. Reddit the application depends on network effects to grow, and without growth, decay will be inevitable. Facebook the company has been able to create other applications that grow, even while Facebook the application is starting a network effect-triggered death spiral. Reddit Inc. has not created any other growth applications like the Reddit app, so will die.
> It makes sense to think of Reddit as an application rather than a company.
Saying something makes sense doesn't make it make sense. Reddit is not just an application. Reddit is millions of like-minded users exchanging thoughts on a wide variety of subjects. The software or application may affect how those users interact with the other users, but it is the users at the end of the day that define what Reddit (or this site) is.
This ignores astroturfing, abusive mods, user hostile tactics (forcing v.reddit on users and disallowing converting it to gifs - even banning a bot that did it at the website level), and a lot of other serious systemic problems with reddit's "community."
Reddit was once a community, but now it's an attempt to monetize its users - nothing more, nothing less. It's clearly already dying to anybody that isn't inside the echo chamber. It moved away from value creation years ago and is clearly in the death grip of value extraction.
I suspect it actually has a lot to do with their latest investment round 5 years ago, but this is purely speculation on my part.
Perpetual growth is good only in a business sense. Social software has an optimal amount of users. Too few and there isn't enough signal, too many and there's too much noise. Both make people lose interest and leave.
