Yes, that’s an excellent post as well. I would add this one too: https://ianbetteridge.com/2023/06/21/meta-and-mastodon-whats-really-on-peoples-minds/

That’s exactly the Meta we’re talking about. The most likely explanation is that Facebook wants to compete with Twitter and/or Bluesky and is planning to build an app using the ActivityPub protocol, which is what sites like Mastodon and Lemmy use to communicate with each other. Basically the idea seems to be that Instagram users will be able to communicate with the rest of the Fediverse.

Two weeks ago, it turned out a couple of mods of the larger instances had had secret (!) meetings with Meta. In a reaction, a group of instances decided to start a pact to preemptively block Meta.