Reddit was never and has never been about balanced information, I think the entire purpose of the site was never balanced information it was what was most popular with a particular subs hive mind, 10 years ago we just had different echo chambers.
The thing that changed was that new generations of users started to use the site, younger millennials and gen z. And their echo chambers differ from the previous generation of reddit users echo chambers and are broadly incompatible because echo chambers usually edge to the extremes on both sides.
The average Redditor still believes that they're more intelligent and believes that they're seeing balanced information (because how can upvotes and downvotes lie?), while being blind to all of the astroturfing and agendas placed by the people who run subreddits.