We just don’t smell the rot yet. It’s not about the actual body (website) and the name. It is about the spirit, the personality. And that has been compromised and killed off because of factors one could call enshittification or whatever. Digg and Tumblr still exist, at least in name, but not in spirit. I think Reddit has past that threshold. It will be a slow death and I am not sure the fediverse will fill the void it leaves behind. But I do think and believe communities will never sustain on venture capital.
And the users left behind, particularly those that whined about the mods shutting stuff down, are never creators. They’re just consumers, useless eaters. You can tell because their umbrage wasn’t directed at the reddit administration, but was directed at the mods, who dared to interrupt their feeding sessions.