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From the user perspective for sure. It’s much easier to join lemmy.world and it has a higher population of fledditors. I was just more acknowledging the role of lemmy.ml as something of a model instance because it is run directly by the developers of Lemmy.
NSFW subreddits are a black hole in terms of advertising potential. No mainstream company wants their products on display next to porn.
A big subreddit like /r/pics going NSFW, with its absolutely massive userbase, takes out a large chunk of Reddit’s potential advertising appeal.