Voat gronked up their life as a website, because the first wave of users were all really mean and hateful people- like FPH defenders, or when the news of an "SJW cabal" broke. The alignment of values among the users was repulsive. Combined with the fact that the people who run the site will stand by the free speech no matter what (respect for that, despite the material), and that they seem to be running their website on a potato battery and a PS3, Voat will probably fail.
I wouldn't underestimate the number and power of hateful/stupid people... They could probably do perfectly well (even if at the same time be a total cesspool) populated entirely by hateful people.
Their ability to run a website with such a large number of users however may be their downfall. Today is the first day I have ever been able to get on there without that goat greeting me.