Reddit still has the capacity to show you what you're actually looking for. It still lets you find content by interest, rather than by personalities. It still keeps replies together, still lets you order by time easily, and doesn't stick too much random crap in the middle (none if you use a decent ad blocker). It handles long form content well and doesn't try to force everything to be a sound bite that you have to click on to see more. It's still convenient to use it that way, and most users probably do use it that way.
Compare to, say, Youtube, which fight you ever step of the way if you try not to be drowned in a disordered flood of some combination of what a computer guesses you might want and what it's most profitable for the site for you to see (including what will keep you on the site), with your only control being which "influencers" you uprank by "subscribing" to them.
Reddit has the capacity to manipulate minors and groom them into believing all kind of sick "fictions", endorsed by the admins. It should absolutely be banned for minors.
Also, no porn on /r/haskell.
Where are the ads on hackernews ? The fake posts which are onlyfan hooks ? The images/videos ? The infinite scroll? &c.
Take two cesspools (I'm not gonna pass up the chance to use the analogy, sorry not sorry). Assume they are both serving the same quantity and quality of people. Feed one a bunch of inorganic matter, laundry bleach and only the finest most heavy duty multi-ply shit tickets. Feed the other nothing that shouldn't go down a drain, no bleach and Scott 1-ply. The latter will perform way better and go way longer between needing service despite the only differences being minor differences that don't even matter in system design.
Create a new account on both platform and check what you get by default... Another test you can do is let a 12 years old roam reddit and hackernews freely, I can guarantee you the results will not be "basically the same", they won't even be remotely similar in any way, shape or form
Where is the infinite scroll ?
Where are the images/videos ?
We don't even have notifications ? "rewards" ?