I find Reddit having a fine audience. Not as good as Hackernews or Stackexchange or so (where good content is a little more valued than on the average forum), but certainly better than the real stinkholes of the internet. Even 9gag has ads.
The reddit audience has changed over the past 5 years due to large growth and the introduction of subreddits. Old users from digg eventually took over reddit. Comments on the sites went from was what intelligent and humorous to stupid and blatant.
Submissions continue to degrade and more cats continue to appear.
