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(lemmy.world)
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Someone pointed out the difference in active user counts, too. 2012 Reddit had ~43 million active users. Lemmy has an active user count somewhere around 60-90 thousand.
Point is, if you're a dev looking to recoup some target cost, you'd be looking at a way smaller and riskier user base than the one that Sync saw on Reddit.
Edit: I didn't even notice the dev essentially says that here https://lemmy.world/comment/2017279
Plus it's a more mature product at this point. Sure the back end changed, but a lot of features carried over from Reddit.