Small Discord communities can generate a lot of discussion, a lot of user generated content. Discord is also a poor place to do stealth advertising; if you post fake messages about how good your product is, those messages will just get buried and will never show up in a search result; it's not very effective.
Things changed this year. We saw the rise of LLMs and the fall of Twitter and Reddit and the rise of federated social networks. I think the Twitter / Mastodon format is more robust for both small and large user bases; the Reddit format is dying. Real-time chat rooms still have a place, especially with the right tooling / notifications. LLMs threaten to replace all of them and end the online network effect altogether.