Once bluesky's at protocol becomes more viable, people will try to run their own instances. Then Bluesky the corporate entity will have policies about who they talk to and don't talk to. The only difference is that I don't think many people will choose to be part of that ecosystem. It will be a part of the fediverse. Just not a popular part. The fediverse is already littered projects that never gained widespread traction. Including attempts by corporate entities.