Yeah, I suspected this would be a real point of no return. Mastodon will also benefit, but naturally the fediverse isn't the first thing people think of. Fortunately, Mastodon has been working on this.
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Anything in form of competition is good imho.
Really liking Bluesky so far, hope it picks up some steam soon. It really is something special and way less confusing (at least for me) than Mastodon.
E: But to add, let's face it, no decentralized platform will ever replace a centralized one unless something major happens. I just don't see the mainstream adopting Bluesky/Mastodon/Nostr unless something incredibly drastic happens. As much as I'd love for Bluesky to get some more steam, it won't at this rate. People want to get on it, but can't.
rain is wet. hope they like starting new instances here. feel the fediverse creaking already
Maybe they just don't have the infra (and if they still don't, I don't believe they ever will). Turn off invites and make it open-season or shut the whole thing down. It's not a competitor like this.