Is /u/spez really just incompetent
I have a feeling like he is being squeezed by the investors. It feels like they want a tiktok/Instagram clone and he is the one that has to tell the Reddit community.
I don't think this was his vision for the site or he would have done it years ago.
Like it doesn't make it less shitty but more understandable I guess?
I think that /u/spez has his back against the wall. Reddit loses money - a lot of money - and there's noone left to foot the bill. He's tried everything: he's tried advertising, sponsored content, and he's tried premium memberships (and don't forget coins!), but all this is simply a drop in the bucket. At this point, if nothing is done, Reddit will likely have to shut down - it probably has 8-14 months left.
Honestly, I think that /u/spez has given up; he sees that Reddit as it was originally envisioned is dead. So, he's decided to make some superficial changes to polish it up and make it appealing to investors, make an IPO, and then cash out what he can out of it and leave.