Having federation between different platforms is a double edged sword because on one hand, I want to explore and experience the different platforms the Fediverse has to offer like Calckey/Firefish. On the other hand though, I feel like it wouldn't be worth it because everything—or at least most things—are federated, so how much new content would I be seeing? On top of that, if I wanted to post something I'd have to choose which account I would post it to because crossposting would effectively be double posting which isn't fun for anyone.

I see no downsides to the idea of federation at all. All the downsides that exist on the specific platforms can be fixed or addressed; there is no inherent flaw in interconnectiveness of various sites/platforms/models, and that's all the "federation" is: various sites connected together sharing content.

That they are still centralized in a way. Federation is only the first step, the next step must be real decentralization, so no more server software!