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Right now? Absolutely not. The platform itself is insanely buggy, normies still can't wrap their heads around federation, and the big instances are only just beginning to stabilize and take shape.
But long term yes, I'm very bullish, and it's for this simple fact: this is only the beginning of enshittification. All those r/NBA whiners you saw bitching on Reddit about the protests are gonna have their "leopards ate my face" moment when spez decides to start charging $14.99 a month for the privilege of subscribing to more than three subreddits at a time or some shit.
As many have said, interest rates are high and the gravy train has stopped running. This means the only way these huge platforms with massive server costs are going to survive is by making a profit, and they can't do that without resorting to Twitter Blue-like subscriptions.
If people want to consoom and shitpost for free, at some point they will have to end up here in the fediverse, where the costs of running such a huge platform can be distributed among a bunch of large and medium-sized instances, which will probably be mainly funded by donations.
I think this is the beginning of a big transition, as big as the one from web 1.0 to 2.0. And ironically it's gonna look a lot more like the internet of old than the era of massive social media platforms.
I like how in your point of view it appears (please correct me if I'm putting words in your mouth or misrepresenting your position) that the platform getting better would be nice but it's actually not that relevant compared to the fact that other platforms are getting worse and will likely continue to do so as they prioritize shareholders over users.
It's like a reverse marathon where you win by not running backwards as fast as everyone else. A leisurely stroll forwards is like moving at super speed.
What makes you so confident users won’t by and large accept the charges and boot from large social media platforms? Debatably piracy and a home media server have a lot of the same pros as Lemmy and the Fediverse. For the most part, however, people tend to cough up the 10-25 dollars for a streaming service. It’s not because of any practical reasons, at least directly. The true decider is cultural and societal attitudes towards the platforms providing a service. People practically don’t pirate because of the learning curve, but realistically don’t pirate because of their preconceived notions surrounding the practice. Maybe they think it’s wrong. Maybe they think it’s too hard. Maybe it just feels like too much work to set up. Maybe the communities feel too insular. Whatever the reason, it’s fundamentally because of some idea or feeling they have surrounding the medium. Who’s to say these big tech companies won’t successfully execute their goal, and push a larger cultural shift to make the idea of subscription social media more appealing to the average user than the idea of a clunky service using ActivityPub. Maybe the narrative of these spaces being too techbro-y gets pushed, and they garner a similar reputation in the public eye that piracy communities have. It could be seen just like streaming services and piracy. The public could be convinced of the value of familiarity and convenience. Has great work been done to fight against this corpo push lately? Absolutely. But don’t look at these “blatant missteps” that places like reddit and twitter have experienced as of late as omens of an imminent downfall of centralized, capitalist social media. Rather, look at it as a warning sign. A warning sign that heralds the first in a long, deliberate line of many who will follow in those footsteps, gradually pushing the Overton Window surrounding these prices towards their goal. Today Reddit and Twitter are the bad guys so that tomorrow Meta and others can make the same moves, with the added benefit of “it’s just not our choice, we must make these changes to remain viable in the current market.” In the eyes of many, not all, but the majority; this is an absolution. They will be able to succeed. They know this, that’s why they’re doing it and it’s happening now. The Fediverse and a free net will not survive unless the battle can be won in the public consciousness. We must overcome the significant hurdles between federated software design and mass adoption. We must take a direct, meaningful, and effective course of action to directly fight against this, it will not passively be won.
EDIT: Typo; missing word “Rather, look at it [as] a warning sign.”