I'm coming to the conclusion that capitalism kills all interesting social media for me. The founders build something. It's pretty good. I engage. They decide they need to make more money. They make a change that I find annoying or unacceptable. I leave the platform.
Facebook, Twitter, .... now reddit? Might be.
And it's never advertisement. Advertise away. It's usually one of two things: encroaching on privacy or pushing "engagement." I'd have left reddit years ago except that I could opt out of the re-design.
IMO, we need some well funded and user focused non-profits to provide social media. Capitalism and the drive for growth is destroying these platforms from within.