Bridgy Fed's integration between Bluesky and the Fediverse is now in public beta, and you can try it for yourself!
Bridgy Fed's Bluesky integration is now in beta, and makes it possible to connect your account from the Fediverse to Bluesky, and vice versa.
There's still some quirks, and every bridged account has to opt in to it, but it's a promising moment for people that want to communicate across networks.
It's a different approach with different ideas. It uses open protocols, focuses on data and account portability, and incorporates peer-to-peer concepts in its architecture. The vision behind Bluesky is to build a global square with these concepts.
I definitely wish they would've extended ActivityPub and collaborated on the wider network, but I kind of understand wanting to start from scratch and not get involved with the cultural debt Mastodon brought to the network.
I don't see any need for BlueSky at all when there already is a great network in the form of Mastodon. I mean all (most) of the ideas you mentioned apply one-to-one to Mastodon as well. To me they have very similar ideas.
It's not ideal but it is in place to accept the normie Twitter refugees as Twitter turns into an alt-right propaganda platform run by a shitty AI that promotes false stories.