I know that that Reddit board is sort of ridiculous and the jokes about it write themselves, but I nonetheless feel that Emacs has attained a certain counter-cultural "cool"/cachet in recent years that it lacked a decade ago. In my opinion, this is a good sign for its future, all things considered. These threads are always full of comments about how vscode has surpassed it, etc., but I don't think anything can change that--Emacs will ever truly satisfy those for whom vscode is presently the superior tool, and conversely, vscode is unlikely to satisfy the Emacs user.
Like vscode, Emacs is in every sense a practical tool; it is simply that it is practical in service of different needs. It is a practical tool for someone who takes active pleasure in the cultivation of a practical tool, in the process of learning and discovery involved. Because this will never describe a majority of users, I don't think Emacs will ever capture a majority of developers or whatever, but it seems poised to continue to attract very dedicated ones who find the cultivation of a personal work environment in a ridiculously powerful 40-year-old program appealing in and of itself.