Reddit held its ground and lost countless dedicated knowledgeable mods and contributors. The overall user base didn't nosedive but there was a definite brain drain on the site.
Agreed. I used to be able to rely on adding "reddit" to my Google searches to get relevant and insightful information. That still works today (soon after the exodus), but the information there will slowly age out of relevance. By the time they figure that out it'll be to late for them to pull out.