It's already like 90% of the way there. Have you even seen the modern new.reddit frontpage?
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Oh yes, it's horrible.
At this point, I only have 2 subreddits that are periodically checked, and you'd best believe I use old Reddit to do so. Only a matter of time before they kill that off as well though.
I went to the new reddit. It's terrible. I genuinely felt uneasy. Everything has changed, confusing GUI, ads so many tricky ads.
I really miss RIF. But also the people there are too mean and I had no voice.
Visual design wise that reads 100% as a (pretty good looking) clickbait news site, not as any form of user driven social media.
The more they make it less obvious that the content is "user" generated, the less new users will be generating content. They already lost a good chunk of "original content generating users" with the API changes and all the drama around it.
Makes sense that they started pushing the idea of being paid for content generation now. Someone inside reddit realized they're headed for a serious drought of fresh content with everything going on plus this redesign, and the suits came up with the least creative and most business-like psuedosolution they could.
This push for paid content generation will almost certainly backfire, as it's tied with karma. Karma always had the issue of the fluff principle, where the most upvoted content doesn't always represent what the community would rather see the best; and now there's monetary encouragement to game it further.
They took a different road to Digg their grave.
I was watching a video on youtube earlier today on that. I like Reddit. As for the new format and design, it's okay. I mean, I am not bothered with it. It is what it is. Having said that, I hope Reddit gets their act together. I would hate to see it become a dinosaur.
Btw, I am still on Reddit. I still read and comment/post on the site. Until they decide to do something drastic, I will stay there.
Sooner or later, they will do something drastic(I will count on that). It already looks so much like New Digg.
I am sure that within the next 5 years - give or take - that will happen.