Facebook made a Twitter (now X) clone (Threads) and has reportedly more users than X now [1]. They have also started a Reddit clone as well now (Forum)[2]. Not sure if that one will be a success as well though, as Reddit isn't loosing users like X is.
Reddit was waiting for Digg to have an incident and milked it to billions. Why was there no project waiting for Reddit to have an incident? (It has had many).