[hackerlight]

> without Reddit they all wouldn’t be on the same site.

Without a Reddit-like company, they wouldn't all be on the same site. That's the key distinction. If a clone won't arise if Reddit shuts down, then yes, you are correct, Reddit is adding a lot of value. As is, given they have a monopoly on this vertical of social media due to network effects, whether or not a clone would arise is a hypothesis that we can't test, but my money would be on a clone arising in their absence.