I really liked the article that I hadn't read before on Enshittification by Cory Doctorow from January linked from the EFF article, which really well captures the inevitability of what's happening to Reddit (and the value of the Fediverse):

This is enshittification: surpluses are first directed to users; then, once they're locked in, surpluses go to suppliers; then once they're locked in, the surplus is handed to shareholders and the platform becomes a useless pile of shit.