Objectively, Reddit will do well as it’s just a generational change. TikTok and Instagram got all and about zilch to offer if one is looking for factual statements or level-headed discussion of topics and they are doing phenomenally. Instant gratification is way more marketable and exploitable, so it’s best for Reddit to take the small loss in engagement from the technical crowd and be just another meme spewing zombie consumer pleaser.
The people who really suffer are the ones that were relying on the niche knowledge some subreddits provided or who were using them as a learning/studying aid. AKA the folks that left and the lurkers that relied upon them.