It’s a bit of both. No, the place isn’t empty, but it’s still not populated enough for content to aggregate as well as it does on Reddit.
Content aggregates based on how the users vote. The more votes there are, the more data the algorithm has to work with, the better it can sort content.
Think of it like a waterwheel. On Reddit, the water comes in like Niagra, that wheel can power a city. Here, it’s like modestly sized, gentle river so you’ve got less to work with.
Simultaneously, the waterwheel here is still somewhat under construction, whereas Reddit’s has been a well oiled machine for many years now.
In both cases, time will fix it. Just need a little patience.