Earlier quoted context omitted.
So basically an exercise in blowing several million dollars.
It's funny the stuff HN fixates on. If all you read is this comment thread, you might actually believe that non-porn Tumblr really is just "an exercise in blowing several million dollars", rather than a concern for a very loud, probably rather small subset of Tumblr users (or rather: former users). What seems at least as likely as "adult content is vital to the future of Tumblr" is that adult content has much more va…
Well, according to this chart (which I have only cursorily vetted), it seems there are a lot of "former users": https://www.reddit.com/r/dataisbeautiful/comments/af9rwu/oc_...
It shows that as of Jan, 2019, there were about 50% as many users as when the ban was announced. That would suggest that there are as many "former users" as there are current users. And the downward trend has probably continued in the subsequent 6 months.