I think this captures how I feel, which is an odd sense of mourning.

It's not that I haven't known for a long time now that reddit isn't the site it used to be, it's that this episode in particular has put that in such focus I can't ignore it.

So now I feel a sense of loss for the reddit of old, even if it hasn't really been such for a long time anyway.

Reddit itself will carry on fine, and perhaps get even stronger with a tighter control over content. Efforts to make a federated alternative are doomed.