I've signed up for it. I didn't use Instagram much at all and deactivated my account 3-4 years ago now so I don't expect I'll use Pixelfed much, but from what I've seen so far I would increase my usage of it if followed hashtags appeared in your feed.
Maybe I'm missing something, as I said I'm new as shit to it, but following people has them show up in my feed, following hashtags seems to resort in me having to just fuck myself. If that ever changes I'll play with it some more.