It still does have the important distinction from true “social media” sites that are based around who you add/follow, but they have made some incredibly poor decisions with the platform trying to be less of what made it great and instead trying to blend in with the trendy influencer platforms du jour
Facebook went in much the same direction. Rather than focusing on interactions between people the focus shifted to just keep people scrolling and reducing interactions to easier "Like", "Hate", "Love", share, anything that could be conveyed using a screen tab, rather than a full keyboard.
My theory: Interaction and the quality of the content on a site goes down, way down, when the primary users switch from desktops to phones.
Also, this is just a personal anecdote, but ditching Reddit was one of the best ideas I've ever had. There's good stuff in there, but also a lot of obvious and hidden advertisement and it's very easy to get lost and spend hours just scrolling.
Here are a few because I know someone will ask:
/r/personalfinance
/r/TropicalWeather
/r/homelab
/r/homeserver
/r/datahoarder
/r/Bogleheads
/r/pizza
Edit: Now, will someone post some BS on one of those subs? yes, sometimes. But the mods tamp it down pretty quick.
Careful self-moderation on Reddit, Facebook, and Youtube can provide a lot of positive influence and information in your life, but it takes some work, and a lot of awareness.
The defaults are bloody awful. Yet for myself, I read awesome spooky fiction on r/nosleep, I get great and almost instant advice on my truck on Facebook, and YouTube is teaching me how to make shelters with tarps and how to tie bowline and trucker hitches.
I think, well I know, there is high quality content on social media out there. That it is being used to manipulate people and misinform people is a problem that will have to be solved. Or maybe it collapses and decentralizes like how it was before 2004. I'm sure we'll manage.