As an outsider, I've always associated Bluesky/Twitter with "volitile but potentially cutting-edge reporting" and followed it but with a grain of salt.
When I see an article on Substack I always assume the worst. The signal-to-noise ratio is lower on Medium and Substack than any other social platform I browse, which is a tragic indictment of where long-form blogging has gone.
As with all social media, it's about who you follow. I've found it particularly attractive for international reporting, albeit typically with some clear bent or polemic.