Anecdotally (not being an active reddit user, just someone who occasionally searches for "blah blah reddit"): I haven't seen good new results in quite a while. It used to be the case that anything you searched for would have a recent thread discussing just that, with a lot of active opinions. Now it seems like a graveyard, all messages from 10+ months ago.
I think it's probably fine if you're there for the popular cats videos and news and memes and such, but when they drove away all the most enthusiastic (and eclectic) moderators and subs, it became a lot less useful :(