This was always what annoyed me about people who took this position before the changes. The goalpost was "Reddit is going to topple" - it turns out that the effect of these platforms is so strong that short of them literally going down you aren't going to see a full on collapse.

I think it's surprising because the collapse of sites like Digg and Myspace in the past, but the internet is a bigger/much different place now.

My prediction was the site is going to lose a lot of its niche communities and deep content will be diminished and the site will hollow out over time. It definitely seems like that's what is happening.