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Given that the sum total of their four goals is a text based social network that is interoperable with the fediverse wouldn't the natural codebase to start from be Mastadon? I'm sure using IG came with a lot of benefits but given they had to punt on the fediverse interop, their most important thing outside of Threads working, starting with a base that speaks the protocol you want to adopt has got to count for something.

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Mastodon is not very scalable if you want to host tens of millions of users.

More so given that Threads has goals of a billion users.

Very few companies other than Meta have experience in a scaling a platform to this extent.

And especially one that has the capabilities that scale along with it e.g. recommendation, trust & safety moderation etc.

Speculatively, I think Mastodon being AGPL could have played some role here

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