It is no surprise, really, that the two big social media companies considering ActivityPub support, Tumblr & Flickr, are those that have previously had major loss of users.
A social networks' biggest asset is its user base: people join, & stay, because other people are there. But there's a critical mass effect, & if people start leaving, others will follow.
Federation provides a large social network as a baseline from which they can work to attract new users (and retain their current ones).