There certainly are intelligent people in any community beyond a given size. You'll find intelligent Christians, Muslims, Jews, atheist, and Hindus. You'll find intelligent evolutionists and creation scientists. You'll find intelligent Republicans and Democrats. There are smart people who listen to Mozard, and smart people who listen to Limbaugh. You'll also find idiots in each of those communities as well. The ratios will be a little different in some cases, but in all cases, there will be both smart and dumb.

By that token, there are, without a doubt, plenty of smart people on reddit. They are, as your comment implies, a tiny minority, confined to a few subreddits (and those are mostly characterized by groupthink -- e.g. any conservative comment on most liberal subreddits will get voted down, no matter how intelligent and well thought out). The front page is defined by what most people vote for, and that's rage comics, misogyny, with the occasional sprinkling of anti-Christian bigotry (this used to be more prominent, but the average IQ has dropped to the point where r/atheism is beginning to look smart). That's representative of the average reddit user.

All that said, I'm not looking for anything on the front page beyond a way to waste a bit of time. When I first joined reddit, I looked to it for intelligent articles. Later, I looked to it for amusement. Now, I look to it less and less, since memes aren't the same thing as wit.