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Based on the stats of a sub I have access to, old Reddit has been on a slow decline for a long time and just isn’t that significant of a % of people.
So no, I seriously doubt this will have an impact.
Counterpoint: the moderation teams for the bulk of the most popular subs have flat out said that they cannot do their jobs without old.reddit, and the Admins (for what its worth) seem to have acknowledged that. I think old.reddit may get perpetually frozen with no new features added, but removing it outright seems unlikely.
Of course, them just closing their API entirely seemed unlikely too, so....
Counter-counter point: Reddit got rid of a lot of the mods that would be problematic to deal with for big changes and it didn’t really impact the site.
I say this as a mod who bounced
It impacted the quality of the site. However they don't care about quality only about money or the appearance of making money.
They want is the investors to look at the site, see all the shitty ads, the number of claimed users and believe it's worth pouring money into the IPO.
As much as I don’t want to, I have to give a very very hard disagree on the quality decline. Sure, the couple of months after the sub shutdowns it was bad but stuff seemed to more or less bounce back.
I don’t count “All”, or any of the major ones like News, Politics, etc. I’m talking local, hobbies, and a few brands-of-device subs. Questions get asked, they get answered. There’s still a lot of timely breaking-news discussion.
But hey, if they want to contribute free work to pump up the value of a site where they won’t get a dime, they can go crazy. That’s why we’re over here and they are welcome to join us anytime.