I think the hype is driven by people that just want Twitter without Elon and realized the Fediverse is not that. I know that by saying so I somewhat sound like the people that the article is criticizing, but I think people that want Twitter without Elon are missing a big part of the picture, i.e that Twitter was and is bleeding money fast, so "their" Twitter was going to die one way or the other.
To build a sustainable platform you need to invest in it. People in the Fediverse have done so, but are painfully aware that it is a careful balance and that it can't work with millions of Twitter users switching over expecting a gratis platform with no strings attached.
And this failure to understand these basic dynamics will probably drive them into the hands of yet another venture capital funded fly-trap and the circle will begin anew.
Montag