Meh, federated or defederated, threads poses only the first challenge to the fediverse. There will be other players with their own incentives that will join via ActivityPub, add their own custom features incompatible with the broader world, and entice users with slicker interfaces. Fediverse will need to show it can weather it, especially hard with the network effects of the larger corporations' user bases.
My hope is the pressure will keep open services innovating to better compete and result in a richer experience for everyone.
Seems to be getting a lot of review flack recently around bans; I take it there are a lot of false positives?