It’s bots. Look at r/happydogifs. I picked this out of r/all. A peculiar subreddit which doesn’t normally make it to r/all. Its top post in a year has a measly 50 replies.

Every single post on that sub right now is a few months old account with 2-3 post history in the last couple of days. Those are 100% bot accounts.

I believe reddit the company themselves are filling the gap. So they can point to site metrics and say the blackout represents an insignificant minority. Except from the every day user perspective the site is basically offline right now since every sub anyone actually cares about is blacked out. The investors won’t be able see the difference though as they aren’t using the site a day to day basis. They’re looking at slide decks with charts and numbers which is what spez will be showing them.