To some extent Discord servers have replaced forums and now you have to try to search through a chat room's history to find out info instead of using a forum. Seems like a pretty big downgrade.
You can mute servers or chat channels inside servers. People like it because it is nice looking, has all their favourite emojis and gif memes. And decent voice chat.
I have them muted, but it always feels overwhelming for me to catch up with servers I try to follow. The information is either not structured at all, or too structured/scattered that you won't find anything useful anymore. I myself indeed use it for voice when playing some games, but it is in no way a replacement for a chatroom or forum, it is in my opinion too chaotic for that.
I'm in a couple of small Discords that were set up for my local circles of friends, for coordinating our RPG sessions and general hangout stuff. Those are good.
I've tried joining some of the big Discords for various games and other big topics, and those have basically been useless. I never think to go check them, and when I do it's just a big blob of useless text.
I agree, even if it is much more active and has quite good ways to catch up on past conversation, the notifications and various icons and unusable emoticons make it feel bloated.