I have never, ever seen a site anywhere near as big as Reddit with such a bad redesign. It seems they could have hired one UX guy and one graphic guy... I could probably pay some people on Fiverr $100 total to create a better design for the entirety of Reddit.
The old design was boring and out of date, but it was everything I needed so I was fine with it.
But I'm mainly a mobile user so I don't really care.
One of the things the new design has made much harder is the discovery of new subs; in the old reddit you could generally speaking find a list of related subreddits on the right side of the screen. Not anymore (sometimes they're buried in the wiki, but not always). It's a shame, because discovering new and interesting (and weird) topics was one of the best things about it. Also, to echo many users here, my usage of the site has dropped right down after the redesign. It's a shame because it was for many years one of my favourite places on the Internet.
It still wasn't enough to make me stick around. The popups on my phone to use the app on every page load are infuriating. Especially when I use Firefox on my phone, and it tells me to "Continue with Safari." I guess because Google started doing that bullshit on their apps, it's okay for everybody else to copy it.
Also,for me, it's still a great social media site that lets me talk anonymously about almost anything.
The beauty of reddit is that serious decline and toxicity only seems to happen within subs. If a sub becomes really bad, you just move on to other subs that are less toxic. Still plenty of great subcommunities there.