Just noticed that r/tifu had a pretty good summary too: “ Without effective tools (which Reddit has frequently promised and then failed to deliver), moderators cannot combat spammers, bad actors, or the entities who enable either, and without the freedom to choose how and where they access Reddit, many contributors will simply leave. Rather than hosting creativity and in-depth discourse, the platform will soon feature only recycled content, bot-driven activity, and an ever-dwindling number of well-informed visitors. The very elements which differentiate Reddit – the foundations that draw its audience – will be eliminated, reducing the site to another dead cog in the Ennui Engine.”

In other words, people who actually create quality content will be gone. I wonder if the remaining people don’t mind the bot spam and reposts. If they really don’t, then Reddit can just milk them for ad money forever, and I guess this is the plan. However, if people do mind, then ad revenue will begin to decline as more and more subs begin to be filled with trash.