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It's not going to instantly die, no. But once the power users and the ones who truly cared start leaving the content will start dwindling to the point that the normal users start noticing and leaving as well. It's a slow spiral that will likely take a few years and reddit probably won't truly "die" for a while, but it will never be the same again. Time will tell what rises to take its place, whether it's kbin or lemmy or something else.