The problem with the bots explanation is that it is unfalsifiable. On top of that, this fits a very recognizable pattern of human behavior. I'm very skeptical that blocking all the bots would even move the needle.
It's unfalsifiable, therefore it isn't happening? Not very convincing for anyone who's engaged with these platforms where reactions happen seconds after your own clicks.
Alternatively, ask yourself, would monied interests be inclined to exploit these platforms? Of course they would. It'd need a solid explanation as to why they wouldn't.
I never said I think it isn't happening, I just don't think it is driving the phenomenon. Platforms like Lemmy do not have enough traffic to justify a bot presence by monied interests and their general discussion communities are just as extreme as Reddit, if not more.
Likely because distributed platforms like lemmy/mastodon suffer from the "fiefdom" problem, plus siloed communities forming due to ideologically defined rules.
Alternatively, ask yourself, would monied interests be inclined to exploit these platforms? Of course they would. It'd need a solid explanation as to why they wouldn't.