I have the same fear. There is some momentum on moving away from traditional profit-oriented outrage-dependent social media and moving to decentralized technology.
The movement needs succeed to some extent and that traffic needs to move to Mastodon, Lemmy, etc. And for that to happen, Twitter and Reddit (add Facebook for good measure) need to cause a significant exodus to other platforms.
I just hope it isn’t another Whatsapp -> Signal migration which failed to cause a significant shift in the end.
Definitely cool, but the price is wayyyyyyy too insane, even by Apple standards