I think the end game for fedi is it will wind up like IRC and fragmented into networks. This is probably a good thing.
In the beginning there was one IRC network, then a server called eris.berkeley.edu joined that allowed anyone to link. This was unacceptable to the functioning of the network, so everyone absconded and made EFNet, the “Eris-Free Network.”
IRC flourished for decades until Discord, Telegram, etc. ate their lunch.