Thanks for the link. Instances in "Meta's fediverses" are likely to take the approach you recommend. I'm skeptical how well it'll work -- most well-moderated instances today rely on instance blocking as an important part of their toolkit -- but I hope I'll be pleasantly surprised!
But a lot of people and instances want nothing to do with Meta, and blocking them's the best way to accomplish that. Why block Meta?}(https://privacy.thenexus.today/should-the-fediverse-welcome-surveillance-capitalism/#why) and [Why the Anti-Meta Fedi Pact is good strategy for people who want the fediverse to be an alternative to surveillance capitalism look at some of the reasons why. I don't really think of this as a boycott, for most people it's more choosing not to participate in an exploitative and dangerous system.
In any case, though, I certainly agree that blocking Meta's not the only action to take, hence the other strategies in this series.