Check out an alternate web client, like https://github.com/spikecodes/libreddit. Even compared to the old design it's much more lightweight and clean, and compared to the redesign it makes 1/4 as many HTTP requests, uses 1/20th the CPU, 1/4 the memory, and 1/2 the bandwidth, doesn't require an account to subscribe to subs, can work as pure static HTML, and doesn't track anything. I have poor Internet and the difference is night and day.

Yeah, what is up with that? It is unquestionably trash, and they simply aren't doing anything about it. The fact that they have an opt out means they acknowledge that a substantial number of users hate it.

Presumably plenty of people are fine with it and arewatching tons of ads and buying those absurd awards. I've been using old.Reddit and RiF app only forever, if that API goes so shall I.

Their existing users might hate it, but the new users they want won't accept anything else.

yet from their point of view it probably improved the product -- how many viewers get suckered into watching an endless stream of content mixed in with ads.