I get the sentiment, but I feel that the majority, if not all of those benefits can be achieved by a floss threaded forum server application and companion client applications. So long as the software’s design objectives includes content ownership and portability, you could bail to another instance with all your stuff and re-share it or not as you see fit.

As much as I understand the goals of federation, it introduces many, many, intractable problems with efficiency, privacy, security, moderation, and ease administration in exchange for openness benefits that can likely or definitely be attained in other ways.

I believe that the idea of federation is not fundamentally bad, per se, but seems to have had a hype wave at a really opportune time, that made it the forerunner among the solutions to lock-in being discussed at the time. Plenty of other solutions seemed just as valid, but they lacked newness and novelty that made them less hyped when Reddit alternatives were being heavily discussed.