I said in a different thread but: It’s a good, and very scary, reading but I would argue that it does not directly translate here because Lemmy / Kbin and Reddit are not social media per se, they are content focused instead of being person focus. Here no one cares who you are, we are all here for content. The XMPP EEE succeeded because once defederated people were not able to talk to their friends, defederating Threads would cut us off from strangers and their content, it’s not a big deal.
We’ll see what happens, hopefully the Fediverse will not be another free social media attempt killed by greedy corporates.