tl;dr: The owner is alt-right and drove away pretty much everyone from the site, which is now a ghost town.
It gained about 30k users relatively quickly. The owner then went full alt-right and declared it a "free speech platform" which caused it to lose about 99% of its users (most of which moved to Discuit). After that, it was basically just 10 or so users posting some pretty racist content.
Recently, the owner put the site behind a waitlist to hide the fact that it basically has no active users...