I'm really enjoying it. I feel way more inclined to post here, I very rarely did over at Reddit. People seem a lot more receptive and willing to participate.
Only downside is that it doesn't have the history Reddit has, so I still find myself using Reddit's history for research. I haven't installed the new app though, and I haven't looked at /r/all since the API changes went into affect.
I had horrible issues with mine, even though the PS5 was right next to my router and I was on my iPad in the same room. What really improved things for me was connecting the PS5 via ethernet.