Yeah, for sure. A lot of people aren't looking for actual content or discussion though, they just want their cat pics and stale repetitive jokes. The fediverse will grow but reddit isn't going isn't going to die.

This is it exactly. The users and mods that are leaving and protesting are the ones who make the site what it is (was). Reddit corporate knows it too. If they didn't, I feel like we'd have seen some stats put out about how "these third party app users don't contribute".