I am not so sure that I agree here. What's interesting about reddit is that it is one site with very different UIs. The official reddit app has a focus on video/images and looks to be in competition with TikTok. old.reddit.com and Apollo are very much text centric apps. From my understand, reddit has a traffic breakdown of 50/50 on the text centric vs. visual centric UIs. With the UIs like Apollo being killed, and old.reddit.com eventually going away as well[0], I think users will genuinely leave as they have killed the text based UIs.

[0] Despite any promises, the writing is on the wall.

Some of Twitter's best content creators have given up on it. That combined with blue tick prioritisation and lack of moderation has seen it turn into a cesspit. I don't see why that doesn't happen on Reddit. Sure the people who go to discuss player trades in international sport and doom scroll dank memes will stick around, but a lot of the quality content could evaporate.