Not really.

First, nobody cares what anybody on the Fediverse says. It's tiny. It's pinnacle "app", Mastodon, is losing lots of MAU every single day and is now below 1M MAU. Besides being tiny, it's scattered and discovery and search do not work. How can this mess possibly counter propaganda?

Second, whilst the Fediverse may not have sophisticated algorithms, it very much has censorship and typically way more than traditional social networks. It's basically a collection of far-left misfits that engage in constant defederation wars. You can't even post a photo of a meal because somebody will be "triggered".