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YES!
This is precisely what every university (and scholarly society!!) should be doing: have their own instance and drop X like a hot potato:

"an instance has been created [... ] on university servers, which is open to the university's organizational units. The active use of X will be significantly reduced."

https://www.uibk.ac.at/en/newsroom/2023/university-of-innsbruck-focuses-on-mastodon/

We detail all the arguments about precisely why that must happen here:
https://royalsocietypublishing.org/doi/10.1098/rsos.230207