Voat's niche is that it's like Reddit, except it does not censor people. That is a good thing. However, that also means that it is outperformed by Reddit in practically everything except for free speech. This means that reddit-users are largely going to stick to reddit - while Voat users are likely going to be exclusively using subs that aren't available on Reddit, such as fatpeoplehate.
Normally, diversity in opinions would be perfectly fine, and Voat's policy of non-censorship should have theoretically made for a more diverse range of opinions than Reddit's. However, because Reddit already exists, Voat is left with the most polarized of opinions that Reddit does not allow - such as /v/Fatpeoplehate.
Now, this still wouldn't be a problem, normally - because that's what subverses are for. They compartmentalize the entire website so that each subset of people can speak into their own echoing chambers. SJWs can speak to fellow SJWs in shitredditsays, and neckbears can speak to neckbears in tumblrinaction. However, Voat's other problem comes into play here - a large majority of its users are only here because their are banned from reddit. Their opinions are also expressed in their voting patterns in the main subs. Anti-SJW posts trend on Voat a lot more than they tend to trend on Reddit. I personally am extremely anti Social Justice as well, but it is my personal opinion that doing so is damaging Voat in the long run, as it turns Voat into an echoing chamber full of the same sort of people.
TLDR - hypothesis:
1: Voat's most popular non-standard subverse is /v/fatpeoplehate
2: That subverse, and other non-Politically-Correct subverses, were banned from Reddit - hence causing a large migration over to Voat.
3: However, migrants were mainly very much anti-PC
4a: Therefore, this tends to attract similar views, more and more anti PC people will join Voat
4b: Conversely, this gave Voat a reputation for being anti-PC (which is technically untrue, as Voat is simply anti-censorship), discouraging non-opinionated people from joining Voat
5: 4a and 4b combined lead to Voat becoming a gigantic echoing chamber where anti-PC opinions are expressed even in the non-anti-PC
6: The above seems to reinforce the idea that Voat is intensely anti-PC, thus driving away even more people.
7: Repeat steps 4 - 6 until nobody goes on Voat anymore.
It doesn't matter that Voat doesn't censor people, if it is filled with only one opinion. What Voat needs to do is to attract more people from different points of view. Only then will Voat's lack of censorship be able to shine out and only then will Voat be able to show that it is a more intellectual and diverse and friendly and non-trigger-happy-banmod-filled place than Reddit.