This is the second death of reddit, the penultimate one. But it stems directly from the first death in ~2015 when they accepted the massive venture capital investment and then had to try to monetize the facebook refugees which meant clearing out all the business appropriate "undesirables" including firing many beloved long time corporate employee, and switching to model where people and corporations posted to their profiles (like facebook) instead of subreddits set up by the existing userbase. It hasn't been reddit since. And they're making that very clear as of yesterday.