Probably. I still find a lot of people here on Lemmy (and the other fuck you spez platform before) that are very very convinced we need to reroute a substantial amount of our effort into building nuclear reactors as renewables can never ever sustain everything and in general there is no storage.
But you are right in general.
And what is when X decides to ban an account you are interested in? You can’t do anything against it. In your mastodon you could still read it on that instance. Or maybe there is a client where you can add two accounts and show content of both? And do you think X or Bluesky does not cooperate with law enforcement and gives data if the US government wants it?