I feel like I'm in the minority of those who love SoundCloud. It's one the very few places for indie music makers and DJs to showcase their work that otherwise may not necessarily be published via the official publishing channels. That includes e.g. long running DJ mixes, not exactly the type of material for the official release bureaucracy and associated costs.
The only problem with SoundCloud is that instead of following the Spotify model, i.e. get listeners to pay for listening, they could have done it the other way around: get makers pay some nominal fee for hosting. Which they kind of did in the beginning but gradually drifted towards the listener-subscription model. As a paid music hosting service they'd at least provide an alternative for specific class of artists, i.e. those who make music for the love of it and want to be heard via unofficial channels.
SC failed to become one. They've had some back and forth and experimentation with pricing and subscription models over the years but never settled at anything targeted clearly and unambiguously. The current offerings are confusing and inconvenient for all classes of users. There's now an all-time upload limit for non-paying makers, and ads for non-paying users. What's the point of this? Getting both makers and listeners pay you? Sounds like a poor plan to me, that leads to nowehere.