I'm not sure if I'm in the minority, but for a lot of content I ingest (news, video) I don't have an account, or actively use one, on the service. The only time I create an account is if I find the benefits of creating an account are more than just visiting the service without an account. For example, I keep an account on Youtube because I want to keep playlists and I don't mind if they have my watch history as a result, but I don't keep an account on Reddit because I just casually browse it without really participating (primarily because I feel like most of the discussion, by the time I see it, is something I can't add to, as opposed to a place like HN). And so for me, if this site is registration only, I don't see a point if it is only to make it real time and a "Reddit alternative" unless it's significantly better, but the most important part of Reddit is the community aspect, which is hard to replicate.