I just attended a very inspiring #FnF23 session convened by @erikkemp on the topic of Fediverse governance. People from many countries, backgrounds and groups were present.
In my opinion, it's too early for creating governing bodies, and I'm not sure we will ever need them. What I find useful is covenants that instances can sign. E.g. digitalcourage.social signed the well-known Mastodon covenant <https://joinmastodon.org/covenant> as well as the #fedimins covenant <https://fedimins.net/en/covenant/> which is still a work in progress.