Meta’s decision to work towards federation does need to be taken with a lot of salt. Corporations using open platforms or open source to make their money has always resulted in power imbalances that, left unchecked, may become impossible to solve without concessions from said corporation, or else [X] thing just gets hung out to dry.
You have to hope the people running that company understand that these problems exist, and actively work against ruining everything for everyone else that relies on it.
For the longest time Twitter has been reportedly a fantastic place to work at, and they had some great engineers who would never be lured away to other companies for any amount of money.
Except for the unlikely scenario where Twitter is circling the drain and Meta comes in with an offer to build a competitor from scratch using all the tools at their disposal.
“Off the record” largely implies that an NDA would be involved, considering “confidential information that should not be shared with others.”