Most believed that when Betaworks bought Digg last month and announced plans to revamp the site completely, that they were getting a recognized domain and a good amount of traffic to go with it. Despite Digg’s fall over the last 3 years, it has always hovered on Alexa’s traffic rank between 120 and 190 worldwide. There were times that it would dip below 200 for a brief period but it was never ranked sub-200 on the standard 3 month scale.

Today, it officially has. Poor performance in the first 10 days of the Betaworks era at Digg have them ranked 203 on the Global Rank scale which accounts for the prior 3 months. What’s worse, it’s on pace to plummet much further. If the current trends continue (and there’s indication that Betaworks is making any changes other than tweaks to the current UI on the site) Digg will fall below 400 within the next 3 months. Its 7-day ranking is 466.

Much of this can be attributed to the decision to dump 14+ million pages of indexed content that had accumulated over the years. Others point to the decision to take the social components out of Digg, making submitting content virtually worthless and putting together a news aggregation page that is clearly moderated rather than voted on by the Digg community.

In fact, there really is no true “community” at Digg anymore. All accounts were deleted. All activity that users have performed over the years was removed. There is no longer a remnant of what the social media giant once was. In its current state, it’s a domain that many people still have bookmarked…

…for now.