There aren’t many ways to organize raising the money required to build a better youtube or reddit. You could kickstart it, but you’d better hope whoever does the dev doesn’t sell. Another option would be a large open source ngo funding the development, but you’re still talking long timelines to completion.

There definitely is room for a more pro-social social media platform that isn’t a clone of something else. Paying for it is another matter.

On a technical level, no. You’re right. It would not be possible to capture the protocol entirely. But meta has serious cash to spend on marketing Threads. If they can capture enough of the ActivityPub market and were to collab with Bluesky and use their protocol (I forget the name), or make their own, it’s only a matter of time before the drop activitypub and force users either to join threads or lose access to their users.

Threads and Bluesky are kind of an existential threat to ActivityPub given Meta and Twitter’s track record with Open Graph, bootstrap, and public api’s.

Embrace, extend, extinguish.