My use of reddit, and what i observe in general (by looking at other people's post history) is to visit a few specific subreddits often, not the homepage, not r/all. It seems there used to be a time when everyone was there for the giggles, r/pics, r/politics etc, when the content was very viral and entertaining. Nowadays all the major generic subs are filled with so much spam (i mean politics) that they're barely useful other than as a place to blow off some steam against the other team.
Topical subreddits could fork off reddit if they wanted to put the effort in it. HN is nothing other than r/technology or r/programming without the politics, and it exists because YC has an interest in maintaining it. Nomadlist exists despite r/digitalnomad/ etc.
Reddit is aging, and it shows. There are subs with the same moderators for more than 10 years, who often end up removing the interesting parts in order to maintain an imaginary "culture" in their heads. And there are a lot of shady moderators too.