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I don't know generally how people have reacted, maybe a lot just quit browsing that type of media altogether. They haven't all flocked to the Fediverse that's for sure. It's grown a lot recently, but before the API mess Reddit had almost a half billion monthly active users. There's like 150k right now between Lemmy and kbin so pretty insignificant in comparison.
I'm pretty sure the quality of posts on Reddit has fallen noticeably, they lost a a good number of mods and people have said it's pretty obvious now.
What I find funny is the favorable references Spez has made to how Elon is running Twitter (X), but thing is it's obvious now Twitter is intentionally being run into the ground. Since Spez is a Elon protégé I guess Reddit is being intentionally run into the ground.
Serious dutch rudder vibes between Elon and Spez.