@lrhodes The only parts that should be adapted are key-based identities and signed messages, though of course these ideas are not new and other protocols have been using them for decades
Despite what everyone says, ActivityPub is perfectly compatible with key-based identities, we don't even need to update the spec: https://codeberg.org/fediverse/fep/src/branch/main/fep/ef61/fep-ef61.md
Other parts of ATProto, as you correctly described, make infrastructure less visible and make relationships between users and those who maintain the infrastructure more convoluted. I think this was done on purpose, all VC-funded web3 projects do the same thing because they need some way to capture value. BS is not decentralized and never will be