Opening up the homepage shows me 1 (in words: ONE) item because it insists on expanding (and autoplaying) images/videos immediately. Old Reddit shows me 9 items (plus one paid ad) on that same screen.
Maybe they got rid of some rough edges, but the fundamental problem is that it tries to be Instagram. Imagine opening Hacker News one day and instead of seeing 25 headlines at a time you can only see one or two - that would really defeat a lot of the allure of the site.
New Reddit is still trash, and will forever be trash because the problem isn't some bug here or there, but a fundamental user experience design decision to make it that way.