Or another term which is more descriptive. This is the first thing people see when they type in Lemmy
I vaguely remember the term from yCombinator which is exclusively links and does not have communities.
Even when using Reddit for many years in the past I never heard the term. It seems like Reddit too realized that it was not a good term for marketing.
According to NATOpedia Reddit is also a forum and "social news aggregation platform
https://en.m.wikipedia.org/wiki/Reddit
Reddit (/ˈrɛdɪt/ ⓘ RED-it) is an American proprietary social news aggregation and forum social media platform.