Reddit doesn't have photo albums or event organization or realtime video chat or a celebrity/Brand platform or product reviews or search engine integration or any sort of privacy controls or a (first-party) Android app with all these features or (for better or worse) a rich visual UI.
It's also done much to kill that -- the interface is abysmal (actually, so is G+, but that's another story). Even some early G+ support channels which were mediated through Google Groups got killed off. I'd posted some detailed feedback early on (2011) which, so far as I can tell, has been nuked from the face of teh Intarwebs.
Reddit isn't the end-all be-all, but it's damned good. And it carries far more regard and respect than its size would suggest. News items I'm reading about G+ discuss a total staff of over 1200 devoted to it (now largely being reassigned). Reddit's still in the <50 headcount as far as I know.
And yeah: I'd love to see global search (including comments), better tags, better moderation tools, a more powerful wiki, longer self-posts (10k char limit is a bear), and a bunch of other stuff, but it's really quite a useful site as things stand.
Much as HN, despite a pretty limited UI is, largely based on community and dynamics.