seem to believe that their platform cannot be easily duplicated, or made obsolete nearly overnight.
As much as it pains me to say it, I think they are right. The value in social media is in the size of their user base and I don't see a mass migration to another platform really happening unless reddit itself went completely offline for several weeks. People do not like change and Reddit will continue to be just "good enough" despite the API changes. If anything their decline will be extremely gradual since moderators will have lost most of their third party moderation tools. And niche communities can probably keep ticking along without them for the most part.