Obviously a few years ago, the API changes caused the reddit community mods to strike, and caused a mass-blackout of most reddit core communities. Eventually Reddit removed a handful of mod teams on some notable subreddits and caused the rest to chicken-out. But it did birth the Fediverse properly.
I suspect Reddit will make another step at some point which causes another comparable exodus. This time, if they do, the Fediverse is far better developed to handle it. What do you imagine it might be?
They have AI automatically banning a lot of long-term users for very odd and flimsy reasons, the appeals process is nonexistent, and the bans are permanent. Meanwhile, the site is being overrun with bots. Obviously, bots have been on the platform for a long time, but there’s been a definite uptick recently.
If they keep throwing out their real users and letting bots generate everything, people are going to exit Reddit, if for no other reason than they’re just kicked out.