I mean, it's a mixed bag, right?

Choice is good, but standardization is also good. The fediverse works because everyone unified around one standard. It wouldn't work if everyone did their own thing.

It's good because they're keeping going to be compatible with Lemmy, but for how long? How much pain is that going to cause?

In the end, I'm for it, for the same reason i support federating Threads, more choice for more people in the same space. The risks are largely the same too (although less likely).