I just received my invite code today and took a quick look around the app. Like Mastodon I do not prefer microblogging platforms. And that's all I know about Bluesky.
AT is not truly decentralized like activitypub. It's similar to crypto where the majority stakeholder (in this case, bluesky the for profit company) controls the network. There are not "instances" run by community leaders, just free hosting.