No trying to be explicitly contrarian, but the EEE strategy (embrace, extend, extinguish) is well known by this point and it always ended up with the open standard not being used anymore and falling into irrelevance (as it happened to XMPP after google and Facebook embraced).
I do think it is a design failure, but it’s one that is necessary for it to be open: anyone can enter the space and build features on top of it. So they bring a lot of people, with features exclusive to them and then lots of people migrate because the experience feels broken if you can’t “florp” a post from someone else. It’s the nature of open source vs closed platform that enables the strategy to exist.
It may not happen this time, and I surely hope you’re right, but it would be a shame for the monopoly to win one more time when we had the chance do to something about it but we didn’t. Bringing more people do the fediverse sounds like a dream, but I’m not holding my breath expecting everything will work for the best. There’s a reason they’re doing this, it’s not because they need more users, they already have all of them.