there are smaller spaces that are thriving just like the old days.
My city's subreddit when from "here's what's cool, going on, or new" to constant political posts. I'm Canadian and it's all but been determined that political forces are using AI posting to complain and point all problems at the current government (it's not clear who is doing it, whether far-right, foreign, or the opposition itself) on all Canadian focused subreddits.
There's also some curious stories about how a lot of the very good moderators of some of the larger ones like r/Canada, their provincial/city/regional counterparts, etc were all pushed out via various means.
Remember, once considered a conspiracy theory, Ghlisane Maxwell was a powermod.
I know about wikia/fandom, discords (both as user hostile as reddit), or some ancient topical forums (neither small not thriving).
Saccharined killed. You used to be able to make some really vitriolic comments on most subs just for the lulz and only get downvoted to hell and back. But nowadays if you're not following the doxa you get perma-banned from some sub first then next day perma-banned from reddit itself. And if you comment on one of the main subs you go directly to reddit permaban.
The API change went into effect soon after and that was it for me. It was time to go anyway. Had been on the site for 12 years, never a ban or anything, but in the last year received 5-6 other sub level bans.
Sure, most of them are still downvoted to shit, and it's not clear how many are trolls vs true believers, but I do think it encourages the true believers that their views are more widespread.
Reddit normal is 2008-2013. This kind of normal still exists on usenet, if you seek it.
And then of course that period basically ended with gamergate, for whom reddit was one of the central venues to choose targets and organize harassment campaigns from. Also not against the rules at the time, since the harassment happened elsewhere and was only coordinated on reddit.
Reddit has always sucked.
¹ Both explicitly intended for sharing sexual & sexualized photos of minors