There are pros and cons. Is use both, because Lemmy on its own just isn’t big enough to replace Reddit. Lemmy has a decent variety of active communities for very broad/mainstream topics, plus technology and left wing politics, reflecting the shared interests of most Lemmy users. But then for any topic that’s more niche and doesn’t have a disproportionally large overlap with the interests of Lemmy users, it kinda falls appart. A lot of the more niche subredddits I participate in have no Lemmy equivalent.
I’m also hesitant to call Lemmy’s moderation better. One thing I’ve noticed with Lemmy mods is that they tend to be far too lenient with off-topic posts. Right now the top post for me on “All” is this post from !science_memes. You might notice that it isn’t a meme in any way shape or form. You might also notice that it was literally posted by a mod from that community. This kind of thing happens a lot, communities on Lemmy are very prone to getting derailed away from their nominal topic.