I definitely agree, but I also remember how Reddit was considered the dumping ground for users banned on Digg and content that wasn't good enough for Digg.
Today unpleasant content probably makes up a large percentage of Voat traffic. But if a few big subreddits moved over that percentage would be dwarfed and suddenly it's no longer a Recycle Bin.
Effectively, Voat is Reddit's "recycle bin." Judging from its content, I think the admins made the right call..