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.
That doesn’t really work when the overwhelming majority of the users are on bsky.social anyway. Like sure I have my own PDS so technically my data is mine, but if they decide to turn off ATproto it barely will have any effect at all for most Bluesky users.