content: Two factors are probably at play. 1 - The exodus from Reddit has been swamping their servers. The DDOSes are probably not helping either. So instead of giving everyone a shitty experience with Reddit fucks up, they are keeping the user base level stable so the people on can enjoy the site.  I would expect this limitation to ease up once they get their server ducks in a row. 2 - There is a troll who keeps creating accounts. I suspect once ways of dealing with it is figured out, things will go back to normal.