I think a place like reddit should be a non-profit foundation rather than a business. The Archive Of Our Own community was able to do it, the reddit community can do it too.
It could even connect to the fediverse, but with its own moderation hierarchy etc. so it has its own culture and doesn't _rely_ on the fediverse.
Plus the vast vast majority of reddit content consists of mindless nonsense, or even worse, so it's probably best that USENET didn't continue growing in popularity.
That's the vast majority of anything (aka Sturgeon's Law).
Soon to be "improved by AI".
Or more precisely, it was great when the internet was small and people were mostly well behaved. And as forums and then platforms with easier access and better moderation tools took over, it became nothing but spam, only leaving alt.binaries, so much that many people saw USENET as just a network for piracy, like The Pirate Bay or Megaupload.
But I'm just some guy on the internet who doesn't actually know anything about non-profits.
[1]: https://www.reddit.com/r/BestofRedditorUpdates/comments/1456...