By and large, the woke sociopaths of birdsite took over fediverse after November '22 and made it STASI Sandbox v2.0. Unsurprisingly, the usage of fediverse has dropped because noby can stand those pricks.
Closing off the reddit API was a big part of it. The woke folk were using bots with the API to control reddit narrative. Without a freely available API that has become harder. The worst people of reddit migrated to lemmy. Reddit is actually a little better after that.
You're right, I forgot about that.