I am talking from the perspective of a user. Those metrics have 0 impact on me as a user (outside of the company going under - or ruining itself in the name of more money.) There's no delusion here.

The users that remain on tumblr seem pretty happy about the effects of the nsfw ban. The people that left due to it weren't the good ones for the most part.

I don't think you understand how online businesses work. Social network companies like tumblr need advertiser dollars in order to pay for server and employee costs. Tumblr exists to generate revenue, user metrics mean revenue. If users aren't using the platform, advertisers stop paying as much and thus tumblr can't continue to exist.

Whether or not you like it now that porn is gone doesn't matter.

? why are you talking down to me? As if I don't know business 101? You sound like a wannabe VC.

Why do I need to align my values of good and bad with market forces? You literally cannot make an argument that your "objective" value system about business is the only True one.

I'd bet tumblr will continue to exist and I'd get to enjoy it for free (modulo ads) for at least another half decade if not more. And I bet throughout that time the company won't do much to monetize their users beyond what they already do. The userbase has long since proven it doesn't give tumblr money beyond a stray click. But it'll continue to plug along - "failing" the whole way.