To me, it was the astounding amount of interactivity between the community.
At first I thought this was temporarily caused by the whole migration from the R site. But, just out of curiosity, I signed up to Mastodon and have enjoyed myself just as much as here.
Most of the Lemmy post's / Mastodon toots have almost as much or more comments / boosts than upvotes or favorites. It feels so organic and makes me realize how much these huge companies employ technics to pretty much force to interact the way they see fit.
It reminds me of that good old saying "you are not immune to propaganda", well I guess neither I nor anyone is immune to psychological tricks either.
P.S. I also love the fact that since there isn't pretty much any money involved, most opinions and interactions are genuine. Like, who is gonna pay this dude to advertise a book through BookWyrm? That increases immensely the odds that said person is being honest with their opinion of that book. It's amazing.
I think you're justified to be wary of the buzzwordiness of Blockchain though. For the 2 days I spent learning about what all this is before I signed up, every time I heard "de-centralized" I kept asking myself, "How sure am I that this isn't some weirdly elaborate crypto scam?"
Bonus fear: I was also concerned for a while that this was just going to be a refuge for hate groups who have been kicked off of major platforms. I've been pleasantly surprised so far.