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Reddit Activity Plummeted After The Protests
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If I recall correctly (I might be wrong), July/11 was when the 3PAs stopped working. Regardless of that I don't think that those karma farms relied on the API, because as @PoliticalAgitator said they want to avoid shadowbanning.
However, if we follow your reasoning, it's still a fucking dumb move from Reddit Inc. to kill what made the place active. The issue with bots was never their usage, but rather that they went unmarked, pretending to be human beings [re]posting stuff.