Spyke

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3rd party app for Reddit, Boost, is still functioning well after July 1st

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Facebook is nowhere near as dead as you think it is. It is still the best place for local groups and many niche hobbyist groups. I really don't want reddit to be another version of that, 1 crappy social site is enough. Also you're missing a key differentiating factor: facebook has actual paid content moderators.

I don't think reddit will die, at least not right away (remember, digg shut down finally in 2018).

Best case scenario is they hemorrhage users, fail ipo, and then join the fediverse. I say this because joining will create a bridge for new users to come here.
Worst case scenario is they become like twitter. which is possible.
My money is on them trying to sell to Microsoft or Google for ai training, and keeping their api private.

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Ripples Through Reddit as Advertisers Weather Moderators Strike

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That potentially millions of 3rd party app users may leave has nothing but good consequences in their eyes (less resources spent on free users), and if even 1% of those convert to their 1st party apps or website that's a net gain for them

But the problem is those people are potential content creators. They are arguably more advanced users, and therefore more likely to create content. And that content drives engagement, which drives ads.

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Reddit is a dead site running

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I still have a few communities that have yet to migrate, so I hate browse them. But sometimes it recommends these rating subs, and morbid curiosity takes over. I swear, the vitriol that is emitted from some of these people... It's just depressing to see people treated that way