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I think, If we have any credible threat, it’s going to be from the Governmental gross anti-tampering laws, forced moderation, or backup regulations. They could make it legally difficulty for us to exist
This. I have considerable concern that Fascists will straight up ban Fedi if enough people shift to it. They don’t like not being able to control everything, Fedi is far too much actual freedom of communication.
They’d shut down large instances, pressure WordPress to remove support, in the US at least, it could be seen as too risky, if they wanted to they would find a way. I don’t think this would happen easily in the EU though.