"Meta opted to use the open, decentralized social networking protocol ActivityPub(Opens in a new window) for this project, which is already used by Mastodon. That doesn't guarantee interoperability between the two competing services, but could certainly make it easier for Mastodon accounts to migrate to Project 92. The reverse is also possible, but it seems unlikely Meta would want to make it easy for accounts to migrate away from its ecosystem."
To me it seems like a power move to funnel and consolidate people who are interested in the "Fediverse" but don't understand how it works, onto Meta's platform. The cycle of enshittification will likely continue as usual over there on Threads/Project 92.
I wouldn't be surprised if they did things like restricting federation of replies made on Threads/P92, so if you're on an alternative like Mastodon you just see a P92 bot posting a "View full thread on P92" link, similar to how most social networks now force you into a sign-up page if you lurk incognito for too long