Not a mass exodus. Call it a brain drain, if you will. The churn includes those who posted or were moderators. Since those who stayed are directly or indirectly supporting practices that most of us find unacceptable, Reddit will probably forever have that sour taste. It will gradually turn into a pale reminder of what it once was, and it will lose its spark. The sheer volume, quality, and length of posts in the Fediverse is indicative of new user profiles. I am so glad I took the plunge!