Depends on what the goal was. If the goal was to have so many people leave reddit that it dies, then yeah. Nowhere near strong enough for that (and I don't think that was ever going to happen).
If the goal was to get enough people motivated to make an alternative (like this one or kbin or whatever) viable, then I think it was extremely effective. Prior to June, these spaces didn't have enough content and discussion to be entertaining for me personally. But I deleted my reddit account on June 30th, and I haven't once regretted that or gone back to the site because Lemmy has been enough
I’d love it to be true, but I will believe it when it hits the market