As someone who was once an avid twitter user, my sense is that Mastodon--after a somewhat hopeful start just never gained the network momentum. Bluesky came closest to Twitter's old reach but is still something of a shadow of the old Twitter (as Twitter/X is these days as well).
Bluesky is not just a shadow, it's on a pretty steady decline. Their DAU numbers are dropping every month. Which probably tells you something about the unspoken reason for this change.
Without researching actual numbers, it feels like that whole category of social media is pretty much uninteresting at this point. Not sure what really replaces it given that Facebook seems increasingly infested with AI slop and sponsored posts.