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In its own way, I'd say. I saw a poll recently asking people when they made their account, and it seems that the majority of users have been on there since the 2010s. All the toxic users left for Twitter after the porn ban, and that seems to have really chilled out the site.

Modern Tumblr reminds me of Lemmy in a lot of ways. Less tech oriented, but would rather burn the site to the ground than see it become one of the modern corporate social media sites. "Become unmarketable" seems to have become the guiding motto there.