Like it or not, reddit is a very good porn aggregator thanks to its community-driven subreddits which more often than not focus on a particular area. Especially for certain kinks and fetishes it's better to find content through a particular subreddit or two than to search porn sites considered safe like any linked on The Big List Of Porn (TBLOP). In every other area, the website sucks. The admins are very bad at enforcing the website's rules and will only really take action if it involves individual users or if the televised, printed and online press shames them enough into taking action. On top of that, the community is very negative and more emphasis has been turned from actual intelligent discussion to spouting out internet memes like a 'newfag' on 4chan. More power has been placed upon power trippy mods associated with radical feminism; turning subreddits such as /r/LGBT and /r/OffMyChest into shells of their former selves. Stormfront and similar racist communities also have a significant presence on reddit, as suggested by communities such as /r/GreatApes.
I agree with almost all of that except to say that: 1) When the Admins said they wouldn't ban anybody for hate speech (I had some hateful trolls that were trying to googlebomb a friend as a child molester) I'd point out that /r/stormfront was banned and had been since 2007. They never said a word. 2) those same trolls are the ones behind /r/GreatApes so the cycle of life is complete. Some of 'em show up here every now and then... they're actually quite civilized.