Why would anyone do that? Because plain text rocks.
> There is no equivalent in any other communication technology for the social, communicative, cognitive and reflective complexity ¹
And there's simply nothing better today than Emacs for dealing with the plain text. Neovim comes close, but still can't match it.
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¹ Graydon Hoare: Always bet on text https://graydon2.dreamwidth.org/193447.html
There are quite a lot of message boards and imageboards, large and small, which check the same boxes. Many of them have not gotten enough traction to catch the attention of the mainstream (e.g. lainchan), and have a distinct vibe.
I think that as soon as your userbase expands into a representative sample of the Internet user population, your platform's culture will become increasingly similar (i.e. "average out") to the largest platforms, e.g. 4chan.