The last major holdouts in the protest against Reddit’s API pricing relented, abandoning the so-called “John Oliver rules” which only allowed posts featuring the TV host. It's the official end of the battle. The Reddit protest is over, and Reddit won.
They’ve grown considerably, because previously there was almost nothing.
If the posts here are any indication, these users never stopped going to Reddit anyway.
Meanwhile the number of users these platforms have gained is barely a drop in the bucket compared to the (likely) millions of new users that just moved over to their first-party app for further exploitation for data-mining and ads.
Be that as it may, the quality of Reddit’s content has dropped significantly. The people who left were the heart and soul of the platform. And the ones who didn’t leave are still pissed. Bluntly, the site’s gone to shit. It will not recover.
Will it shut down? Probably not, but that’s why I said “in every way that matters”. Digg hasn’t shut down either, even after all these years, but it has become completely irrelevant. Just give Reddit time to bleed out and it will be the same.