You can move between Mastodon instances, but you will lose all your posts https://docs.joinmastodon.org/user/moving/
The email analogy isn't always great with ActivityPub federation, but it's still a useful analogy as email is our most common federated service, and here ActivityPub migration is no worse than email address migration, and certainly at this point in some ways already better (follower migration is something email could have used; updating your email contacts list is still a very manual process).