My day job includes moderation. I think I am more empathetic to the issues that moderators deal with on a day to day basis given that they are underpaid, under-appreciated, and overworked.

It's very difficult to scale a community to be both welcoming and productive. New users don't have the same context as existing ones. You find that norms and manners aren't transferred from one group to the next. So although that I noticed that SO started getting more strict from 2014 onward, I wouldn't know immediately what to do about the content quality issue.

My take is that, like most things, the medium of the old will be appreciated the way it wasn't in 2014. As the Brian Eno quote goes: "Whatever you now find weird, ugly, uncomfortable and nasty about a new medium will surely become its signature." People will yearn for the human forums the same way they did years past when people tire of the LLM slop. (If they do.)