To be fair, once you get beyond the default front-page subscriptions, and dive into the long tail of subreddits, you'll find a great deal of compelling discussion on reddit.
I find reddit to be a bastion of 'traditional' internet discourse, with all the positive and negative qualities that implies: sure, there's lots of spam, flamewars, and trolling, but there are also coherent social spaces, opportunities for depth and ongoing dialogue, and interface mechanics that prioritize substance over flashy aesthetics.
Even if it's not quite the Usenet of yesteryear, reddit is certainly superior to the disjointed and simplistic forms of inaptly-named 'social media' we see on Facebook or Twitter.