They're currently forcing logged-in users to share screenshots if they want to share something with non-logged-in friends and preserve any context whatsoever (you can no longer see replies, or what a xit was in response to, if you're not logged in—all you can see is a single xit). Search also doesn't work anymore if you're not logged in, and if you visit a user's page, their xits are ordered by some even-more-nonsensical-than-usual algo that puts years-old xits near the top. The site's basically totally unusable if you don't have an account.
This may be making some metric (account signups, presumably?) go up, but sure seems risky to me.