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:::spoiler Rule 10- Majority of bots aren't allowed to participate here.
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I'm calling bullshit on any user count they release. The site was filled with bots even when I still used it. People kept complaining about "karma farmers" as if there were users who repost popular content. It has always been largely Reddit's own bots too keep new users entertained and recycle popular content so that it reaches as many users as possible. They turned this up to 11 before going public.
Now that they no longer provide an API, they are free to make up any fake metric they want to try to pump up their worthless stock.
I'm very doubtful too. I look at "active users" stats, and for every sub at every time it never goes above a few hundreds.
The millions subs numbers are bs
One of the really popular subs - with hundreds of posts per day - cracked down on bots and nothing was posted for two days afterwards. ~~Can’t recall which sub it was,~~ It was WholesomeMemes. I caught wind of that a few days later and it was truly a ghost town. Even now they’ve only got something like 5% of their pre-bot-ban traffic back - about 4-6 posts a day.
I remember the "Reddit is just you, me and /u/karmanaut" meme from 2008. He was the original "karma farmer". It was a problem since the early days due to how they setup Reddit as a system. It just enforced his behaviour.
“Karma farmers” is a major reason Digg collapsed and Reddit took its place.