@jwz not great with some of the people funding, true, but Effective Altruism has a solid core IMHO despite character flaws of individual members -- and I know some of the people making Bluesky and they seem well-aligned to me.
I think it's fair to treat it as a soon-to-be-truly-federated network (hopefully) and say: there'll be nazis occasionally, like there are in the Fediverse, and we will push back against them as needed as always.