https://dustycloud.org/blog/how-decentralized-is-bluesky/

The approximately a million dollars a year that it costs to run another copy.

The fact that you have to be on “the” relay to meaningfully participate on the network.

If you instead claim that users can always choose to use other 3P relays, then you immediately lose all the nice things that Bluesky is able to do well today (search, discoverability, a “discover” algorithm). Indeed, you fall back to the same old problems that every other decentralized social network has.

Bluesky is just a shittier version of Nostr, except that the people over at Nostr don’t pretend.