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Funny, because statistically it seems to be doing fine. Like Google searches for reddit have doubled in 5 years.
https://trends.google.com/trends/explore?date=today%205-y&q=reddit
I have no idea how it has developed since they closed the API, except what I read on Lemmy, because I had already closed my account about a year before that, because the quality had deteriorated a lot already back then.
Lemmy though is nice, it's a lot like reddit was in the beginning.
I would guess part of it is Google getting worse and people adding reddit to the query hoping to find answers to PC problems, etc.
It's possible, but AFAIK Google is known for prioritizing reddit results. i don't see why that part should be worse. But to be honest I don't use Google search that much, my default search is Qwant.
Only superficially
I agree a lot with that, but this is more than a year old now, and with myspace it only took a few months to begin.
With Digg it was even faster, and what reddit is trying to do looks a lot like what Digg did, when they tried to prioritize monetized content, and although digg still exist, it's an irrelevant site.
https://digg.com/
But a lot of people seem to stay with reddit for some reason. Which may actually be good for Lemmy, because when Digg failed, the quality of reddit took a dive.
Actually Digg wasn't fast either. There were multiple exoduses from Digg throughout a year or more. And you also have to remember that Digg was multiple orders of magnitude smaller than Reddit is today. That gives Reddit a ton more momentum before the trust thermocline is breached.
Back in the day Digg was a phenomenon on the internet. Relatively speaking Digg was orders of magnitude bigger than reddit is today.
While you're probably right, I think it's total numbers that probably matter more for these things. Reddit could loose a number of niche communities and most users wouldn't notice due to its size. They can also hemmorage more people and content before it becomes apparent to the average user.
A lot of Digg was just bloggers looking for backlinks though.
Considering most google searches show reddit posts, its not too surprising. There's good info on it, but anything made more recently is pretty low-quality. There's still gonna be users on it, but nobody will know exactly how many are actually human.