The most promising general reddit equivalent I've seen so far is tildes.net. It's the first time I've seen a fork of the reddit model with some actually fresh ideas. However, like all of the hundreds of alternatived, this site is far below the critical mass required to make browsing it regularly worthwhile.
I expect people would mostly just use the mobile web site. And there would be a lot of noise. But I can't ever see myself going to somewhere like voat.
Yeah, Voat's not an appealing alternative. There's an ActivityPub-powered, federated link aggregator in the works[1], that could work out really well as each community could have their own rules and if you don't want to federate with a particular one, just block them.
There is an alternative made by a previous reddit dev called tildes.net its invite only and quite enjoyable to use. Classic lightweight website and no trolls
Folk would probably move over to something like voat.co