What? Meta won't control moderation on Mastodon.social just because they can communicate with each other. I want to be able to call politicians twats and "cunts" without fearing a banhammer. That's what it boils down to really.

Then they will either threaten to defederate with that instance unless they impose the same rules they have or tell that instances moderates to punish you. Once the instances become intertwined enough, their rules become ours rules or they'll threaten to defederate essentially kill that smaller instance.

There simply isn't a world where Meta allows Threads users to see content that they don't want them to see on their platform. I'm sure part of the reason they haven't federated yet is so they can figure out a way to hide shit from other instance on their own instance.