In the past few years, Reddit -a community-driven platform for submitting, commenting and rating links and text posts -has grown exponentially, from a small community of users into one of the largest online communities on the Web. To the best of our knowledge, this work represents the most comprehensive longitudinal study of Reddit's evolution to date, studying both (i) how user submissions have evolved over time and (ii) how the community's allocation of attention and its perception of submissions have changed over 5 years based on an analysis of almost 60 million submissions. Our work reveals an ever-increasing diversification of topics accompanied by a simultaneous concentration towards a few selected domains both in terms of posted submissions as well as perception and attention. By and large, our investigations suggest that Reddit has transformed itself from a dedicated gateway to the Web to an increasingly self-referential community that focuses on and reinforces its own user-generated image-and textual content over external sources.