I think the admin may have tightened things up a bit. A few months ago, there were lots of posts like "What do you think of your ebike? I am really liking my MAGIC CYCLE 4.2 AVAILABLE NOW FOR ONLY €1399" (where the bold text is a hyperlink to a page selling the Magic Cycle).
Now, the last few spam postings I've seen have no embedded links at all. They are just text. Limiting embedded links is usuallly an optional feature of the forum, so it looks like they have turned that on. There are other features, like CAPTCHA to cut-down on bot posts; and delays (e.g. you can only lurk for 1 week, then you can only Comment, for a two weeks, then you can post if you have >5 Comments, with no reported spam). Usually the human spam farms don't have the patience to wait around 2 weeks before posting spam.
The forum itself is probably not administered by a Serial1 owner/fan; it appears to be hosted by VerticalScope, a publicly-traded corporation based in Toronto ON CA. I expect that they could have 12 paid staff, who administer (on average) 100 forums each. So they do have a business interest in this forum not dying; but also, they may not be as dedicated as a Serial1 fan/owner.
111 Peter Street, Suite 600
Founded in 1999 and headquartered in Toronto, Ontario, VerticalScope is a technology company that has built and operates a cloud-based digital platform for online enthusiast communities in high-consumer spending categories. VerticalScope’s mission is to enable people with common interests to connect, explore their passions and share knowledge about the things they love. Through targeted acquisitions and development, VerticalScope has built a portfolio of over 1,200 online communities and more than 100 million monthly active users.