I think people overestimate how quickly competition happens and underestimate how powerful it is. There is a massive hole for new competitors to move in to the social media space. I see Brett Weinstein has finally decided YouTube is untenable, for example. This is just another data point in a trend of people with interesting opinions rediscovering the dangers of centralisation.
I single out this quote from early in the article:
> For the past few years, we at Damn Interesting have been hearing from scores of long-time fans who were under the mistaken impression that we had ceased all operations years ago.
What this says to me is it takes people a few years to notice when a social network is no longer providing value. That sits well with my assumption that users actually leaving a platform is a long lagging indicator that the platform is dead. The early sign is that the content producers are being squeezed.