The Fediverse is not large enough to replace Twitter/Reddit (for breadth and depth of content) and it is unlikely to become large enough any time soon.
Fortunately, Mastodon does not push an algorithmic feed on me so I can follow people I want to hear from on Threads without having to put up with the bullshit that comes from being on Threads.
I recognise that the lack of moderation on Threads means that instances which do federate may be faced with a lot of extra work and not all instances will be up for that, and that’s totally fair.
But it would be good if there was at least one instance which allowed access to people on Threads without having to make an account with Meta.
FWIW it’s not a coincidence that Threads didn’t make federation possible until after they’d found a legal way to launch in the EU. They knew that if they federated first, the Fediverse would get a lot of EU users who would otherwise have joined Threads. I don’t think the entire Fediverse should cut itself off from Threads when many of its users might also like access to the feed without the Meta bullshit piled on top.