So they'll likely be conservative.
Also if they open, it won't be exactly now, because they're waiting for the hype around Threads to die a bit and people to start saying "Threads sucks I uninstalled it" and so on. Which some people will inevitably do, no matter if Threads is successful or not.
The lack of anonymity with Threads makes it a completely different experience for me.
So I wouldn’t really say they’re competitors.
Human identity is important in order to reduce astroturfing which has reached critical proportions and is literally defining and destroying businesses, political regimes and so on. So the interest in abusing anonymous accounts, fake accounts, AI accounts, is great.
But anon accounts are also needed. Having distinct platforms, one that focuses on human identity and decency, corporate cleanliness & user friendliness, and one that focuses on anonymous accounts, decentralization, power users, but may also come with trolls, abuse, scams... seems like a nice duo.