Free as in gratis, sure. But as in libre? No, it’s definitely proprietary & it’s free because users are the product (data collected and upselling Nitro); not every user wants to give up their privacy freedoms to participate. Discord’s not federated so users will be required to create an account & agree to the ToS & CoC of Discord, not the community running it. Discord has also been hostile towards folks trying to make alternative clients to meet usability needs & certain kind of bots.
Without IRCV3 & bouncer it would be a difficult/unexpected experience for a new user. Luckily IRC isn’t the only libre option. If you want to keep the system requirements low XMPP MUCs are good & allow federation. If you want newer bells & whistles at the cost of system requirements federated Matrix can be considered (tho centralization concerns around Matrix.org having the most users, most used server, most used client, & controls the spec). There are bridges between all of these that you can choose as many or as few as meets the community needs such as a community-hosted XMPP main server in a neutral country with bridges to IRC & Discord.