It's not that important of a loss in the grand scheme of things. It's probably less than 1% of the posts that have ever been made on the Reddit website, since Reddit was a pretty small and obscure website until 2011 or 2012.
But it might be the first step toward making all of Reddit only readable with an account.
Still works for me (although I always use it logged in). If they kill old.reddit, I may finally abandon the site. It's been slowly losing value for a long time and being forced to use the hot garbage of the new UI might be my tipping point.
What? No this is completely incorrect. old.reddit is a way of viewing reddit with the old (in my opinion far superior) UI, but includes new posts and comments. As for whether or not it requires an account, that appears to be something that they are A/B testing.