I don't think they're incompetent. They run a platform with millions of users, and a metric ton of data moving back and forth with good reliability.

I really don't think they're incompetent, I just think their business types prioritize all the wrong things. Why should they implement mod tools if the community is willing to do it for them? Why implement post title editing if it's not going to attract new users? Why implement rate limiting if they can funnel people to the official app by essentially forcing other clients to shut down?

It's not incompetence, it's business types trying to juice the numbers to get a higher IPO. They did pretty well until they pissed off the moderators, and that's not something I expect a business type that only cares about quarterly earnings to consider.