I don't think Fediverse solves the problems that we see in Reddit (or Twitter, or any of the others). Instead of admin meddling from a single group of closely-affiliated admins (they all work for the same company), you just get meddling from many small groups of admins, none of those groups affiliated with each other except via ActivityPub. They can't shut down conversations they dislike entirely, but they can sever you from the Fediverse thoroughly enough that they might as well.

And they can do it early enough that no one ever knew you were there in the first place. Even the Reddit admins didn't do that... I don't know if it was apathy and indifference, or just that they couldn't pay enough attention back in the early 2010s, but they didn't. And that likely allowed Reddit to grow so large, it could be the forum for everybody, about everything. Fediverse and Lemmy just ends up being those old phpbb forums, that won't talk to or link to each other unless everything is excessively sanitized and drips with insincere civility.

Lemmy doesn't even have an Elon Musk to piss everyone off of Reddit and drive them to search for an alternative.

Are servers hosted on fediverse open to being indexed by search engines otherwise I doubt it can replace reddit. Reddit did discussion threads , subs, and searchable results from search engines really well. It was a really great version of "forums" . I am not sure fediverse or Discord can do such things.