There’s been some debate over the last year or so regarding Bluesky and how decentralized it really is. There has also been a growing fear that “enshittification is inevitable.” Or, worse, that an “evil billionaire” might take it over and ruin it the way other platforms have been ruined.
But I think it’s important to understand that Bluesky has, effectively, created a technological poison pill: by building on an open protocol, ATprotocol, the system itself can be rebuilt outside of Bluesky, but in a way where everyone can continue to communicate, and that creates incredible incentives that undermine any evil billionaires, and would actually punish Bluesky (or anyone else!) should they try to enshittify.
One could argue the overwhelming majority of users is on mastodon.social.