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The people who are going to spend money on that place are advertisers, all they want is people going to a site where their ad is and will be seen. A giant swastika in the canvas would bring in way more views than everyone drawing happy little trees and flags of their country. Content means nothing, views are the point and it's working.
Advertisers, unlike Reddit, often think about more than raw numbers. And so do the brands who hire those advertisers. Part of why Twitter is hemorrhaging cash is that a lot of brands really don’t want to see their logo displayed next to a giant swastika, even if it means people are seeing their ad.
Sure, a swastika on your front page for months at a time is a bad look. When you give people a place to do "free" art and the draw something inappropriate it creates fast controversy and clicks and a good chance for them to rationalize all the shitty changes they have made recently.
Wrong way around, the shitty changes rationalise the graffiti. Or are you oblivious to something called time, it creates this thing called a sequence of events. But you knew that because you're disingenuous, not stupid, right?
I don't know why everyone here is asking like investors and advertisers are completely oblivious and stupid. Most people don't just throw money at things without looking into it at all, particularly when it's their career. Advertisers absolutely care what their ads show up next to, the whole point of social media ads is targeting them to users with similar interests.
Having worked in the advertising business (on the tech side), I can assure you that the content is hugely important to the vast majority of brand advertisers. Somebody like P&G will not buy ads promoting their fabric softener in any place that will turn people away. Tucker Carlson's show lost advertisers even though it was the highest rated news show on TV.
Direct-response advertisers (like Google search advertisers, say) have a higher tolerance but will still restrict the hell out of their placements.
For example, go to a browser without ad block and search "Disney", you're gonna get an ad. But try, say, "Disney barf" or "Disney beer" or "Disney ugly" and those ads just disappear; they don't want to be associated with any negative valence.
There’s not a chance in the world that a reputable advertiser would be caught dead advertising next to a swastika