Perhaps more frustratingly, if you bite the bullet and browse the "new" version on your mobile browser, the page will eventually become non-responsive and have ~60% of your screen covered by a bottom banner that prompts you to download their app to continue. It's like they are actively trying to kill their userbase.

Like most big tech companies now, they are actively trying to kill their non-contributing userbase, where contributing means viewing an ad for every second post. They know that perhaps 5% of the non-contributing userbase they kill will become contributing userbase, while the other 95% will just leave, and this trade seems good to them.