It doesn't really matter, they made up the DAU within a year [0] and even back in 2018 had grown their revenue despite lowered DAU numbers, from your link.
> The rest of the company’s financials exceeded investors’ expectations. Revenue increased 44 percent year-over-year, from $182 million in the second quarter of last year to $262 million this year.
Given their stagnant/declining stock price since IPO (covid tech bump aside) I would say it does matter in the single place it matters most to a public company. Potentially because to get that revenue and users they had to spend so much money that their net loss was 65% of their total revenue in 2019.
Right, what's important in internet social media are whales.
Infact, most of capitalism is glomming on to this model.
Hooking whales is expensive in the beginning, cause you basically need millions of users and some underlying psychological or pathological business use case.
Once you know the whales in the barn, you can do a lot of treeshaking as long as your $ metrics are accurate.
> The rest of the company’s financials exceeded investors’ expectations. Revenue increased 44 percent year-over-year, from $182 million in the second quarter of last year to $262 million this year.
[0] https://www.statista.com/statistics/545967/snapchat-app-dau/