The ascendance of Threads show how Bluesky and Mastodon basically fumbled the bag while the end-zone was wide open. A moderately decent experience was all that was needed. Threads isn't even that good, it's just better than Mastodon and actually publicly accessible unlike Bluesky.
A shame, I was ride-or-die for Mastodon. But its bad onboarding, bad discovery, and various UI hiccups killed it.