Future will tell. Id like to find out that you are right and fediverse will prevail without monetisation. Yet its growth seem really sluggish so far.
The world needs decent communication ecosystem, we need less manipulated societies at least for democracies to work. Fedi has a potential to be a world changing project, not just another irc-type cave of geeks.
You are right that enshitiffication does not quite fit here, as by Doctorow, it also involves reaching market dominance, which is a prerequisite to squeezing more velue and simultaneously offering less. Getting paid for your work is a far cry from market dominance :) It is just fair.