I've just stumbled upon something that I think makes a pretty solid argument that federating with Meta goes directly against the idea of Fediverse (because I was actually intrigued about whether I'm not just projecting my dislike for Meta into it).

Take a look at https://www.fediverse.to/ (which I'm actually not sure if it's the official main page, but it is the first search result), this is literally the first selling point, written in (absolutely hideous :D) large font on the landing page:

The fediverse is a collection of community-owned, ad-free, decentralised, and privacy-centric social networks.

Each fediverse instance is managed by a human admin. You can find fediverse instances dedicated to art, music, technology, culture, or politics.

Join the growing community and experience the web as it was meant to be.

I think that with that in mind, there's no way how we should even consider federating with them. That is, of course, unless it's what majority of people wants.