Well their JavaScript "new" site sucks so horribly that it even brings my heavy gaming PC to its knees.
Clearly they have no clue what they're doing (probably at management level, even bad devs can do better than this) or they have a ton of legacy code they're trying to write around.
But even the old one had its issues. Deep threads with thousands of posts would often crash when you clicked the "read more" to go deeper and instead redirected to the top. So it could be that's where it's at. I assume a complete code review / partial rewrite would be very hard to justify at Reddit's scale.
I'd use the old one but I find it so clunky. Even though it has the same density of hacker news it lacks all its grace.