Yeah. Not just that, but for the past 2-3 years, I felt like I've been watching reddit disintegrate in real time, at an accelerating rate.
Their IPO has been "just around the corner" for the past 3 years or so. And with more time passing, the more improbable it seems to ever happen. At first, it seemed like the IPO timeline couldve been affected by COVID. But at this point, I don't think reddit will ever IPO. And if it does, it will just be a last ditch attempt to kickstart a countdown do its death.
Reddit will implement Twitter-like feeds and hashtags and eat their lunch. Twitter content creators hate Elon.