It actually makes me appreciate Reddit a bit more -- it can be garbage, but it's also a bit of a centralized meeting place for so many smaller communities. Even if the bulk of those smaller communities doesn't take place on Reddit itself, they still flow through Reddit.
Reddit is like the central bazaar of discoverability. The community you end up in might not live on Reddit, but in all likelihood, you discovered it through Reddit.
So despite how terrible the big communities can be (which is not a Reddit-exclusive problem), I'm still glad it exists. Maybe an alternative is needed, but at the very least, I respect how Reddit has mostly retained this unique ability over the years.
It's possible to talk about "The Average Redditor" or "The Average New Yorker" or "The Average Tokyo Resident", because statistics isn't about community, but the whole reason Reddit has survived at the size it is is precisely because subreddits allow different people to have vastly different views of "what's on Reddit" based on subscription/unsubscription. This allows The_Donald and EnoughTrumpSpam and dozens of other communities which would fight like cats in a sack were they ever mixed to share the same service.
So Reddit isn't a community. It's a pre-made hosted platform to build a community meeting point that you can largely (or completely, via invitation-only private subreddits) insulate from all the other communities on the same platform.
So I think it's valid to refer to "The Reddit Community", with some caution, because there is a familiarity with some of the same content, and an ability to relate in certain modes of thinking. The same way as "The Tokyo Community" generally familiar with Shibuya crossing, the local weather patterns, and behavioral expectations.
There's significant standard deviation, but also a commonality that enables a stronger connection to other members of the platform / city.
The dark horse, in my opinion, is spectrum.chat. It is fast, beautiful and being iterated on daily. It is also open source and open to feedback. The real time chat combines the best of discord and slack and the design is a step up from both of those and it.
It might not be a direct replacement to Reddit, but I think it could steal some traffic as it develops. Plus it is driven by a revenue model based on subscribers, not ads, sidestepping the current FB public relations issues.
I think another reason is because Hubski sucks and is full of spammers when you're not logged in. You need to log in to get the full benefit and curation.
1. This change is much smaller and less destructive than digg's big change (although the long term effects can be just as destructive).
2. When Digg's redesign caused an exodus, Reddit was extremely well known as "that ugly digg clone" and "this digg link was on Reddit yesterday". Reddit doesn't have a well known established "number two" the way digg did. Raddleme is a leftist fringe site, voat is a racist fringe site, HN is a technology fringe site. Discord servers rely on Reddit for discoverability and member vetting. When this has been discussed before, I've never seen a viable candidate mentioned. Since the only people who can leave are people who only use fringe topics, Reddit won't be able to loose critical mass and then the fringers will have to come back.
On the other hand, these changes appear to be a step into the Twitter/Instagram/facebook market. I'm curious if Reddit will be ready in time to take advantage of this upcoming Facebook exodus, also if there will even be an exodus.