bluesky isn't decentralized and never will be. the only reason they would ever consider federating with other servers would be for the purpose of cannibalizing them. they are a for-profit company and as all for-profit companies have done in the past (XMPP) and are doing today (email), the goal is always to kill competition through forced lockouts.
I'd be happy enough if it just ended up replicating pre-Musk twitter - that was a cool website! And in practice as you say with the federated decentralized aspect and a core userbase of anti-fascists it will likely be even better.