Eugen is not the person I would trust for good judgment on this because his agenda has always been user growth-centric, so a Fediverse that resembles Facebook would just be a "yay" moment for him - either way he can still end up with a career by leveraging his role with ActivityPub.

That said, I don't believe EEE works here, because AP evolved in an environment that already had to compete like-for-like with corporate options. You'll still log in for the rest of the fediverse if it brings you better content than Threads...

...and it has an edge on that, because these spaces are not designed around herding around industrial quantities of users. They have a natural size at which moderators shrug and close the gates if a big instance is too troublesome, because it hurts the quality of the experience for their own users. This peeves instance admins who want the power fantasy of "owning" a lot of low-quality users, but it also basically guarantees defederation with corporate social, because it's never been able to handle its own moderation problem other than in a "pass-the-buck" way.