I think it comes down to a platform that isn't very nice to use compared to other social media. I've introduced quite a few to it. They sign up all excited, then disappear because the experience is frustrating/boring.
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I think it's as fun as you make it. I get good responses to my posts and I follow interesting people so I want to come back each day. People do that on other sites for no reward. We have to teach a critical mass of users for it to really take off