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I think it's par for the course for user traffic to normalize since the platform gets visitors just by simply existing.
But if they actually matched that against old users of the site, then it actually means something. Most of the users that left are usually power users and have used Reddit long enough to use third-party apps and can't stand the bullshit changes.
I think traffic is gonna plummet after June 30th. A lot of people are still using Apollo, Sync, etc. like business as usual, but once they stop Reddit will probably take another hit.
I've reduced my usage to ~3 subreddits also specifically to do with living in Japan. There's just nowhere else with this info or discussion and people are just not presently interested in moving over here. I mostly lurk (between two reddit accounts (I nuked my online presence because of a stalker and took most of a year off all social media), I had something like 13 years on reddit and maybe 20 submissions), so it's not like I'm producing alluring content on those places.
I also don't use facebook, meta, instagram, twitter, tiktok, etc. which further reduces any interaction I might have.
EDIT: also having to deal with government, legal, visa, etc. things are not fun when little to none is in English (and that which is in English is out-of-date) and a lot of the characters and grammar are not in the standard set. Living and working in another language and culture is also not without its own difficulties and having people to talk to is important. For further info on just the language, 2 sets of characters containing roughly ~50 symbols each are required (not hard), and then you need at least ~2100 Sino-Japanese characters (kanji) just to be able to read a newspaper. That doesn't include a lot of jargon used in legal, medical, and other things. I wonder if my downvoter /u/Veraxus has ever had deal with anything like this. I can speak conversational Japanese, know a lot of IT jargon, and can somewhat read Japanese and it's still very difficult at times.
Not too surprising, sadly :/