I think Reddit is an outlier in the sense that until now it has been a good service with fairly minor flaws.
FB is totally garbage and had been that for many years now and yet people are not seeking alternatives, maybe because that kind of social media is not that interesting anymore to the types that would care.
Honestly Lemmy is much better than I thought it would be. My main problem is the lack of some niche communities that are on Reddit. For example as a GW2 player I get all my news about game updates & store discounts etc from the GW2 subreddit, but I don't see Lemmy taking that over anytime soon, if ever. Maybe I'll need to use a Reddit scraper for that, if I want to completely abandon the platform.
What I dislike about Reddit is the system of incentivizing karma farming. This leads to unhealthy posting behaviors that always bugged me. So far to me it seems Lemmy does not have that, so it's a huge win.
To me with old.reddit & Apollo nothing much has changed until now. As for new Reddit, I used to think it's okay if they can monetize some things without affecting me, though I did know the good times will end someday.