I wouldn't go that far. There are tons of real people on it. A big problem problem though is the user base is so large and concentrated that it disguises the massive amounts of bots and "hidden" advertisement posts that get mixed in. And that low quality content drags the entire community down as "legitimate" posts are forced to compete for views/karma which was not their end-goal in the first place.

Reddit works when it isn't a competition, but advertising has made it a competition with a profit motive.