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I saw WSB hit 60,000 concurrent users watching the Nvidia earnings yesterday

Huh, I just checked now and WSB does have more CCUs than I expected. (WSB has 38.0k CCUs, /r/pics has 36.3k CCUs)

That makes zero intuitive sense.

WSB has more actual discussion, while people mostly see /r/pics on their feed (because it's a default subreddit) or scroll through really quickly (because it's easily-consumable content).

Those numbers are inflated. I modded a smaller sub than WSB (still in the millions), went private during the API protests, and it consistently showed hundreds of CCUs when I was tooling with the sub.

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