Eh, I think Lemmy has reached a critical mass of users to sustain itself in terms of content in the long term. Every misstep that Reddit takes will bring about more migrations, and the platform is on its way to form its own identity. It's wait and see, at this point.

My main concern is complying to GDPR-like regulations, given that federation means that the content in each instance may be stored elsewhere in a more permanent way, compared to a centralised service like Reddit. This might threaten Lemmy and Kbin in the future, I think.