It's an interesting point that he thinks the site would not take off if he launched it today, compared to when it started in 1998.
Similar to the early adopters of Instagram who built huge followings simply because they were there first. Anyone starting today has to face a huge headwind: the content algorithms.
Are there other examples of vestigial platforms that are leftover successes from before?
Email newsletters are the last outpost of unfiltered connection - I shudder to think of what happens when personal email dips below 100% organic reach.