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Well, no. They're exchanging meaningless, made-up data for semi-meaningless, made-up statistics and a useless sorting method for a different useless sorting method. That's the tricky thing about made-up Internet points - if I tell you they're purple now instead of yellow, you can be pissed, but you can't argue that the purple points are somehow less genuine. Reddit has been fuzzing things well out of the range of any reasonability for more than three years now. What they're doing here is acknowledging it while also admitting that they can't meaningfully keep the "points" metric around without it being any more of a joke than it already is.