Viacom, by far. They did well at first, but then threw the site into a money-hungry downward spiral, and then left JumpShart to clean up the mess they left behind. JS absolutely blows, but I still know they didn't inherit some grand design.
Viacom for sure they broke so much and JS just fixing what they can when they can with super limited resources so i think JS is actually doing a great job in that regard but unfortunately it doesn't look like they want to take much risk so neopets just in decline because of that.
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I think it's unfair to say Viacom fucked up Neopets when they are basically who build it up to the site we know today, but what I do think is that there's a clear differentiation in Viacom's ownership time. They kinda stop caring at a point and just moved towards what ever could make the money, which was when things started to go down until they eventually sold the site as their last resort of making money out of the dying site they left.
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Love them or hate them, Viacom pushed out a lot of original artwork, content, and features. Were they all good? No. Were they all bad? No.
JS has had Neopets long enough where they should understand the site and community. Die hard fans keep telling you to let them settle in and it will get better, but there's also a limit on how long people will stick around for recycled content, a lack of updates, and stolen work. JS has added little to nothing original to a (formerly) well established site since they bought it, that's bad.
In terms of who fucked it up more, I guess that depends on your opinion of 'fucked up'. At least with Viacom you were actually interested in what they were doing with the site and it's features. With JS at the wheel there's nothing to look forward to because it's been empty garbage since they took over.
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You can't really blame Jumpstart, but like @(you need an account to see links) said, they've had enough time to settle in, but we've been spoiled by people who made and love the game - the original TNT, and a Fortune 500 company - Viacom, who still kept most of the original staff because they had the money to.
JS just doesnt have the resources to keep things running, let alone pump out meaningful new content. They've taken down/failed to fix a lot of important features (habi, battledome, KQ, etc) that each had their own user base who stuck around for those features.