I was gonna say. It’s this exactly. Plus a nice feature of Fediverse stuff is that it can scale down to hobby levels if needed. Venture funded commercial services abhor this and will compromise all kinds of things (e.g. morals, ethics) to keep going at whatever scale they’re at.
Welcome to the top of the sigmoid curve.
If you were wondering what 1999 felt like WRT to the internet, well, here we are. The Matrix was still fresh in everyone’s mind and a lot of online tech innovation kinda plateaued, followed by some “market adjustments.”