For example, free software, no advertising as a business model, not commercial, not run by big corporations and talking over AP.
None of those are requirements to be part of the fediverse. The fediverse existed long before ActivityPub was even proposed. Free software, ad free, non commercial, not run by big corporations are all just coincidence because its a grassroots effort. Even now, there's multiple companies invested in the fediverse: Mozilla, Flipboard, Facebook, Automatic being the most obvious.
Even if you take those as given, none of those dictate any shared values. Bridgy-fed itself meets all of those requirements but clearly holds differing values. Truth Social, Gab, Spinster, etc are all on the fediverse despite being abhorrent to the majority of the rest of the fediverse.
I'm in favor of groups maintaining shared values and enforcing policies based on them. But those policies can never apply to an entire network made up of distinct projects, servers, and people all with different ideas about how it should work.