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And then we would have hundred of threads on the same topic and virtually no engagement with any.
Whereas those who have interacted with a thread will see it on their Following page, maybe be notified depending on their settings, and it becomes more obvious to those browsing which topics are popular, and it's obvious when searching which thread is the best to reply to for a given topic.
Some forums do the "never reply to an old, start a new", we do the "if there's an appropriate thread reply there first rather than start a new one".
Merged threads :)