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Totally correct. It’ll take a while, but the quality will absolutely drop. And even though 3rd party apps represent a small percentage of Reddit users, I’d bet that people who are engaged and participate enough to get a third party app for their phone (many of which required payment to block ads) are the same people providing a lot of the quality content that makes Reddit successful. When the people who produce the good content leave, then it’s only a matter of time before everyone else follows.
Took a peek and it doesn’t look like there’s any recent posts on /r/gifs ? Like, sort by new and everything other that 5 reddit is killing itself posts is at least 19 days old. What’s up with that?