Reddit’s still worth it in 2026, but not for “drop a link and pray” affiliate plays—mods/AutoModerator, domain blacklists, and crowd-reporting kill direct promos fast; the money is in native content + pre-sell funnels (value post → profile → lead magnet/bridge page → offer) and tight subreddit-market fit. If you can hit 3–8% CTR to a bridge page and 20–40% email opt-in from high-intent threads, it scales; use UTMs + separate tracking domains + RedTrack/Voluum and focus on comment seeding + long-tail “help” keywords rather than blasting links.