David Karp is way more interested in modeling for Uniqlo, riding his Vespa in photoshoots, and hanging out with the mayor than doing anything that the users of Tumblr actually want.
Once someone else creates a streamlined Reader its just a matter of time before people drop off this service like flies. A company is nothing without its users. Communication isn’t a service, its a right. Clicking through what are basically pop-up ads to get to what I want (and have had for four years) is a marketing move straight out of 1996.