This is it 100%. I don’t think there is a major platform that does not already exist in the fediverse. I’m sure there is something, but even Instagram and YouTube can be replaced… well the YouTube one is hard due to the bandwidth and storage needed. But the tech is out there.
I think at some point this web3 will take over. Things like YouTube, will eventually come, but we need a lot of cost reduction in current tech to be able to do that.
We are finally taking the web back.