It’s literally a case study of how to drive a social network into the ground. It was sold for 1 billion in 2013 and for 3 million in 2019
They banned most of their artists and content creators when the new owners started their neo-puritan war on porn. Thousands of artists used it to get commissions of fan-art. They suddenly found their income disappear and didnt know why - they were getting shadow banned, often in error.
In this announcement I see no indication that they’ve learned anything
Once the creators leave, they are not coming back. Quality content is gone. The social network only lives so long as they can re-market someone else’s work. It’s a predatory business.