On some of the subs that I still frequent, the content has swiftly deteriorated, and it's not just due to the still on-going protests anymore. I'm subscribed to something like 50 subs or so, and it's always a handful of these that show up on my subscribed feed. If I want to find the other subs (some of which I don't fully recall why I subbed to them) I have to browse down past a lot of crap content, or look at my list and click them individually. In short, the experience has been awful, not to mention that I no longer browse it on my phone when bored.

Reddit is still there as a resource, mostly for Google searches that take me there, but otherwise it feels "dead" to me, in ruins. It will not go away, like you said, it'll definitely stick around but I think people will gradually move away to other platforms and its content will evolve to something that won't be relevant to us one day.