I wouldn't count it out.
They are not even remotely close to having the technological foundation of Twitter and FBs internal incentive structure fortifies short-term thinking.
As for the general implementation, I'm with you on the problems of lacking a feed with only posts from those you follow. But according to the Threads team, this was a minimally-viable-product and features like that are coming soon.
Other than that, it's been very smooth in my experience. And much less full of crap that Twitter. Though that's likely due to it being brand new.
This is a shitty app. It is user hostile.
It’s way more crappy than Twitter. I’ve blocked around 100 people and I still get dumb influencers on my feed. Clearly I have no desire to see what Selena Gomez or any other similar person is doing.
The standard play for new entrants is to make a great experience and then slowly make it suck more by injecting intrusive ads into the experience. If Facebook’s strategy is as you seem to suggest, namely make it suck to begin with, then Threads will likely fail.