Reddit is past its expiration date anyway and I'm surprised no one has created a challenger site. Perhaps this was due to Reddit's friendliness toward programmatic access but it seems they are taking that away. This is a good opportunity to create a new community, and essentially take back messaging from the corporations (let's be real about what reddit is) and put it back into the hands of the people.
Let's be clear though: this is exactly what happened. Digg was the place to go, and then they fucked it up and everyone migrated to Reddit. Now Reddit is fucking it up, and even if everyone migrates somewhere else, that new somewhere else is going to fuck it up too once they get to the point of "we need to be profitable at all costs". What we actually need is some way to convince users to pay for the services they us…
This is how the fediverse works, and it's _vastly_ better than any subscription service (not least because it means that anyone, regardless of financial situation, can find a server to be a part of.)
There's a fedi version of Reddit (lemmy) but it seems to have been a bit of a half-cooked design, rather than something that could truly take over for Reddit anytime soon.