We already have the web. The web already has OAuth. OAuth is already widely supported. IndieAuth already offers a very simple and standard approach to personal OAuth servers, if people really want to run their own identity server.
"Feeds" are perfectly doable using the web. It's already pull-based. We don't need another protocol to listen for changes at a URL. The web already has support for different content types and document schemas, we don't need to reimplement content types and schemas as ATProto "lexicons".