From the article:
And this bumps up against another part of Cory’s enshittifcation concept: it only works when switching costs are high. Social media can make that work. But I’m not so sure that Reddit has the sheer gravitational pull that social media has. Yes, there are social media-like communities on various subreddits. But, on the whole, the communities are built around topics, and it’s kind of easy to just move elsewhere (again, fediverse options Lemmy and Kbin are already looking pretty nice for that).
To be a pedant: They’re using “social media” wrong. They mean “social networking site”, which Reddit is not. But it absolutely is a “social media” site.
They’re right about Reddit’s lack of social graph making it much less sticky, though.