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how did we survive threads earlier this year?
(kbin.social)
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Yes, absolutely. As an instance owner of four services (lemmy, mastodon, matrix and peertube), the users will absolutely follow a lot more folks (and maybe unfollow them but then the damage is done, metaphorically).
The larger problem will be the habit of having infinitely more people and then meta defederating/limiting the non-meta instances which is what makes them the most money.