Yes, the quality can be garbage, but I think a lot of the automatic scrollers require both quantity and low repost rate so they don’t run into stale content while they’re having their daily scroll. I think quality will go first, then the repost level will rise (and I know, it’s already high, lol, but it’ll get worse), and eventually either the quantity overall will go, or all the content will be created by bots, which will eventually drive off even the casual users. And when enough users go, the advertisers will go, and that is what will actually put Reddit on the rocks. It might take several years to happen, based on the changes they have already made, but they have the power to accelerate it if they fail hard enough.
What really creates train wreck appeal for me is how hard they are deliberately failing. I agree with the general sentiment that it’s profit-motivated, and they have to do something to get profits, but they are missing a lot of sane, likely-to-work options in favor of pipe dreams and emotional abuse.