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this is just one of the instances
there are many more instances according to https://farside.link/ (which is a thing that will automatically redirect you to one of them: https://farside.link/teddit/ )
so by using this, you help reduce the load on individual instance, resulting in less "too many requests" errors for everyone.
The problem still stands, I tried just now a few of those randomly redirected instances, and they're all still giving Error 429 (Rate Limited).
Reddit is on a horrible war path here and realistically the only way out is to just cut oneself off now.