My take is that they cranked up the enshittification because of an upcoming IPO but instead of continuing to slowly boil the frog, oops, they went too hard woke their golden goose, the user and mods. Now they’re panicked and are trying strength instead of subtlety. They’ve still got their more apathetic users and addicted/committed mods, but they’ve shed people and that’s just about rule number one for a social media company.