the death of tumblr probably means people wont do gifsets much anymore because they're harder to set up elsewhere.

Yeah. I do love the gifsets. Hopefully, the DW staff will be able to make changes to their (positively ancient, inherited from LJ) code to make adding pics to posts a little easier. It'll take time though, as they're a small volunteer staff and they've really got their work cut out for them.

I'm just popcorning and hoping the more toxic parts of tumblr culture die with it.

Yeah. The only people who seem to be staying on Tumblr are the ones who don't want to leave their friends behind (ie. the fan communities that thrive on Tumblr), or those who are the toxic people you should avoid (ie. those friggin' Nazis, TERFs and MAPs).