Because they've taken so little action (and because of the way the admins were defending it in the announcement thread) instead of a real step forward this looks like someone pushed them forward 2mm and they're trying to claim victory.
But if some of the worst elements of the site want to take this as an opportunity to abandon the site, I'll feel better about it.
I had never heard of voat.co until just now, but their site appears to be down, which is some evidence that they probably are receiving a ton of traffic from somewhere.
Edit: For the record, I don't think voat.co will become more popular than reddit in the way reddit became more popular than digg. The subreddit system is much more resilient than digg's system was. As others have said, I barely noticed that this was occurring.
I'm betting that a day/week/month from now, Reddit still lives on. Subreddits, which Digg did not have, would make Reddit resilient to such 'migrations'.