This is textbook enshitification: Initially, vendors create high-quality offerings to attract users, then they degrade those offerings to better serve business customers, and finally degrade their services to users and business customers to maximize profits for shareholders. (https://en.wikipedia.org/wiki/Enshittification)

Reddit is following the same pattern. Entice everyone over from digg, make users happy and grow base, appeal to businesses, then squeeze the business (API changes). Chrome used to be the faster, cleaner, more 'techie' option, and they too have departed from Day1 and moved into the squeeze.