Excerpt:
Most major subreddits show a decrease of between 50 and 90 percent in average daily posts and comments, when compared to a year ago. This suggests the problem is way fewer users, not the same number of users browsing less. The huge and universal dropoff also suggests that people left, either because of the changes or the protests, and they aren’t coming back.
It looks like a lot more people left Reddit than joined Lemmy or the other Reddit alternatives. I reckon most people who left didn’t actually seek out an alternative and are just spending more time on Facebook/Tiktok/forum sites etc. Or they might be being productive with the time that they would’ve otherwise spent on Reddit lol.