In many ways I agree with you. In particular the conglomeration of high percentages of atproto users onto Bluesky owned and moderated algorithms and feeds and the replication of Twitter-style dogpiling combined with the relative lack of ideological diversity on Bluesky has created the perfect environment for toxicity, even if it doesn't reach the depths that Twitter does.
But conversely, that's the only place I disagree with you. Everything that is bad about Bluesky is much worse on Twitter. It's a -- larger -- red mob instead of a blue one (or vice versa I guess depending on how one assigns colors to political alignment), and some of the mob members are actually getting paid to throw bricks!