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Yep - reckon you're right. I think a major issue is that you can't really use the site on your phone - which basically means that 90% of the potential traffic is lost.
Personally, I like the old school forum style (and using a keyboard), and while I use social media occasionally and WhatsApp all the time I wouldn't use it for debating. The Times comment section can be quite good - but its a different experience.
Still, old habits die hard...