The big difference is Open Source + Federation. Federation means that no one server can own the network. Open source means that the software will tend to improve with time, as long as there is interest, and that of there is some controversial decision, the software can fork (qv Open Office and LibreOffice).

This does add complexity. Just look at Linux desktop environments: Gnome, KDE, XKCE, et al, but makes for a robust ecosystem.

For Lemmy and the rest of the Fediverse, there is an lot of opportunity to smooth over those complexities for the end user.

I’m mostly optimistic. I’m sure. most Redditors will go back to Reddit. Many will keep a foot in both worlds, and a few will abandon Reddit completely. Long term though, Reddit and other corporate owned sites will always have their Enshitification, while Open Source will tend to improve. I think the seed has been planted.