You're making the assumption the majority of people want insightful and informative. The fact that there is a huge market for content like Survivor and Fear Factor makes me doubt this assumption.

I'd say that Reddit has more to worry about from niche copycats than another large site. Why go to Reddit for your celeb gossip and pictures of cats with dumb text when there's a site dedicated to it? It's like oh-mah-gawd-with-justin-timberlake on top awesome, without all the nerdy stuff that makes my brain hurt.