Traffic is really a bad way to look at it, Traffic exisits because there is content to view
If the majority of people posting, commenting, etc are coming from the other interface it does not matter if the bulk of the "traffic" which is largely going to be non-power users that just read reddit comes from the web and the new interface.
There seems to be this idea that reddit will need to see massive traffic loss to die, no they need to see massive loss of quality link submissions and comments to die, that is a very different metric
If the majority of people posting, commenting, etc are coming from the other interface it does not matter if the bulk of the "traffic" which is largely going to be non-power users that just read reddit comes from the web and the new interface.
There seems to be this idea that reddit will need to see massive traffic loss to die, no they need to see massive loss of quality link submissions and comments to die, that is a very different metric