I've been a reddit user for the past 7-9 years and if i have to quit the service, so be it. This is the straw that broke the camels back after about half a dozen times i have had subreddit takeovers happen because of rogue mods and reddit simply refused to help. Coupled that with the fact that NSFW is being phased out, i don't see a lot of people holding reddit near and dear.

Reddit have had retention issues. They did not mandate email address for years which meant they did not take much data from their users, unlike meta and google.