People keep saying it's dead to them but the company's own statements seem a lot more optimistic, imo. I think they're just refocusing, and dumping a lot of the extraneous "let's be an everything platform" features the userbase didn't want anyway. Tumblr isn't a giant cash so far as I know, but its userbase is sizable and stable, and recently grown since reddit and twitter took a tumble.

As a platform, there's a lot to recommend it, I think. It's one of those situations where the experience you get out of it depends on how you curate it. So like, you can go down fandom rabbitholes, or webcomic rabbitholes, or you can entirely ignore that and just subscribe to ocean science blogs, or to photography blogs, or so on. There can be drama in some parts, but that can also be entirely avoided in your feed if that's your preference. I like it a lot better these days than I did like 5-10 years ago.