I was using Reddit the last few years only because I didn't find anything better. There was a lot not to like about Reddit from the start for me. After the recent Reddit debacle I was motivated to find an alternative. Since this community and another favorite migrated over here, I figured it was time to move with them.
The Fediverse is pretty amazing, you have a range of platforms, Lemmy, Kbin, Mastadon, etc. to access all of the Fediverse content. I like Lemmy a lot, but Kbin would also be a good platform for me. Then you have a pretty big number of instances to chose from. I actually have three that I like, but mainly use the one I'm on now. It's all about options and the Fediverse has them in spades.
The Fediverse has been around a while, but it's really starting to gain traction. Initially it was Mastadon that drew off a lot of Twitter users after the Musk fiasco. Now it's Lemmy and Kbin drawing off users after the Reddit API fiasco.
There is definitely a looming threat of exploitation as the Fediverse community gets more popular. I think the admins and platform developers will be able to keep a lid on it. They pretty much have to for survival. There's other threats too, like corporate influence. The community will have to be vigilant in the fight to protect itself.