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FediPact is an Organized Effort to Block Meta's ActivityPub Platform
(wedistribute.org)
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No it doesn't, because the only benefit Meta gets from creating a federated service is to have the same back of the box feature as BlueSky.
Like, there is literally no other advantage for them. The paranoid assumption that this is a ploy to remove competition is ludicrous. Nothing about ActivityPub competes in any meaningful way with Meta. If I had to bet, the entire concept is fully a PR move.