A growing number of instances (mainly of Mastodon so far) are signing an ‘Anti-Meta Fedi Pact’, pledging to block any instance owned by Meta in the fediverse.
I don’t know how big this will get or how effective it will be, but if you run a fediverse instance, you should take a look at this https://fedipact.online/
Consider that three common core values of the Fediverse, and open software in general, are a propensity towards transparency, privacy, and decentralization. Literally everything Meta stands for is in opposition to that, including their lackadaisical approach towards moderation. If you look at our value profile, Meta is a threat actor in that regard.
We aren’t trying to find out what something new is going to do. A cancer that metastasizes in every host it’s ever had is likely to keep doing so, you don’t take a wait and see approach. You excise the malignance.
In this case, you surround it with walls until it dies on it’s own.
I agree in general, although I really don’t understand the “Fediverse is good for privacy” argument. This is a public forum. Everything I post here can be trivially scraped by anyone and everyone, including Meta. There is no privacy here because there is nothing private here.