I take serious offense to this. I am a moderator on reddit and the communities I help out in are amazing. He paints all of reddit with the same brush but reddit is too large for that -- it's now the 9th largest website in the U.S according to Alexa. Sure, there are some horrible & trash communities. Perhaps there's a lot of them, but there's also a lot of amazing subreddits run by fantastic mods. Reddit is what you make of it - if you subscribe to those shitty subreddits, then your experience will be shitty. If you subscribe to great subreddits, then your experience will be equally great. Reddit is like a snapshot of the internet as a whole; there's the bad, there's some meh, and there's also some amazing content out there. You just have to look for it and tailor your experience for those things.
If reddit is terrible, it's because you're not using reddit correctly. My reddit experience is great.