His latest update (https://snarfed.org/2023-10-06_bridgy-fed-status-update-7) shows already how far along this is, and that is without the Bluesky protocol being 'finished', it does not even federate yet. As soon as Bluesky is finished and is really a decentralised protocol, I'd expect that there is a functional connection between both Mastodon and Bluesky. That won't really happen as long as Bluesky is still invite-only, but pretty soon after I'd guess.
2/3