I think it is worse that, if you want to make serious money off of running a social network, and dont want to actually have real moderation (which paying for essentially erases any serious profit margin) instead of ai crap, this is always how it is going to turn out. Bluesky might claim to be different but is just a slight reframing of the βproblemβ that leverages the high cost of moderation to set the stage for rationalizing centralization down the road.
I mean yeah elon musk is a shithead toxic jerk, but it isnt like any other corporate social networks actually do any genuine moderation at scale that is legitimately effective at protecting people who are considered a target by rightwing trolls.
You can either create profit for shareholders off of running a social network or have it be a healthy place for people, pick one.