I highly notice its' absence, whenever I visit my old Kbin or discuss.online accounts, and I see all these posts for sports, gaming stuff like Switch that I don't own, individual areas like in Canada and Australia and USA and UK - even if I lived in one I definitely do not live in them all:-) - and just stuff in general that fills up my entire scroll list with things that make reading it no fun and demotivating to have to decide individually on each one to skip.
And we all - well, apparently "only" 99.98% of us - are this way:-). That's why one day I hope to see more general tools to deal with this stuff, e.g. if I specify that I don't want updates for "sports" then unless I specifically subscribe to a community, it will hide even newly created communities from me that fall into that category. One day...:-)