It also points to what the best use of a federated content sharing network is, and it's not "create something that looks like it has unfettered access to some canonical whole". It's small networks of users with related interests having the majority of their discussions with each other, while also being able to pull content from other interest groups they may be interested in.

Like, a... to re-use a random example I pulled out of my ass in some other thread... Mazda enthusiast forum, where most people are talking about their Mazdas, but also one person's really into the New York Yankees, and another also cares about their Dodge truck. The usage case is 80% local discussion, 20% off-site.

The currently attempted model is "everything is general interest, and you have to search for your niche, and it could be anywhere", because that's how it works on Twitter, or even on Reddit (subreddit squatting, subreddit splits, and early millennial internet humour come to mind). But it's all being done to disguise what the fediverse is, and make it look like what already exists, rather than trying to usher in something different. And it just... can't compete that way.