IMO reddit won but only by engaging a new audience. It removed the 1 post per subreddit on the front page without an announcement, modified the upvote algorithm to make upvote numbers seem larger than they are, and comments per upvote are lower than 10 years ago. Basically engagement is way down for people who use it like a forum aggregate. But engagement is way up by people who are migrating off of Instagram and similar platforms. I used to feel weird about being on reddit but now I have my wife's 20 mostly female coworkers asking me about it. Reddit has a new audience it appeals to and it's creating a weird issue because for some dumbass reason they thought the unpaid engagement generators would stick around after they fucked everything up for a few short term dollars.