Running your own email server is not trivial.
Federated networks are theoretically and systematically superior to centralized, that's why people push it.
Humanity and social media isn't about technological superiority. Current platforms have inertia. Why would people fragment when all they care about is basic actions, and their network is already built?
Federated networks have been burdened by an onboarding tax, but this, along with moderation, can all be abstracted away by AI.
Let's see the current reality: social media platforms are currently American-dominated. A serious geopolitical problem, especially considering the amount of time younger generations spend on it.
There is more and more reason for governments to get involved and force the fragmentation of these platforms.