This recalculation happened shortly after reddit went closed source. I don’t think we should trust their word that they had all of a sudden ‘fixed’ the problem, whose fix just so happened to really drive their stock value.
It’s not misleading, it’s the reality of what happened. Their public post was PR justification. It was about that point on that every decision they made was for $ and not for transparency.
It’s impossible really to say. This was their official code citation:
I mean on the face of it, maybe they were telling the truth?
But they are a for profit corporation, and that year forward was when the enshittification really began. I guess I just have little reason to believe that they didn’t just alter the algorithm to make it look like there was more engagement than there was.