My google must be off. :)
Being a "facebook killer" invention is something many have been striving for, even before the block-chain integration. Gives it kind of a "meh" hype to it, since you hear it a lot.
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I think they can co-exist since not many power Facebook users are on Reddit and not many hardcore Redditors are on Facebook.....
Well, yeah, until it gets going, we cannot really know. But its general structure resembles facebook more than reddit. Users have more control over who sees their content. This is pretty identical to the way facebook operates.