People dislike it because it's not federated, but hot take: federation doesn't solve enshittification. It just devolves everything into little shitty internet fiefdoms. It doesn't do anything to prevent the inherent problems that arise as a result of having everyone freeball a random moderation structure, where they can outsource their agency to some guy they don't know, with the illusion that there's some clear set of rules or useful tools that exist somewhere off in the distance, being used by the "correct" actors and moderators. Which in turn means that everything becomes vulnerable to any abuse of the static, singular, broad rules, inside of these walled gardens that people are basically locked into.
You get bait, you get ragebait, people taking advantage of the singular "algorithms" in order to game the system for maximum attention, and you incentivize that behavior because you make it way too easy to engage in. You get people paying to get on the front page of reddit, and you get eglin air force base being the most reddit addicted town. People think that AI abuse is some recent phenomenon, but it's not, bots have been on the internet forever, and people have been incentivized to engage in bot-like behaviors forever. Eventually you get a huge, hollow system, where everything has the guise of legitimate human interaction at the surface level, but is really just subject to this huge system of incentives and planned interactions which people are made subconscious of.
You'd really need the ability to have account migration for a better decentralized network, and you'd probably actually just need self-hosting for everyone. You'd probably want blocklists to easily propagate around (+2 for bluesky), and you'd probably actually want those to have easily copied and pasted rules that could be shared between users to prevent spam and make it so abuse is less common and easily prevented before it happens.
Which is what the usenet already had/has. It's just that the common consensus (which I believe to be false), is that the usenet is too hard to use, and requires demands too much intellectually from its users. If you decide to take this philosophy to the extreme, you end up with something like tiktok, where the idea is that people use their premade google account, scroll downwards forever, and that's it.
I wouldn't mistake this as being some sort of like, natural occurrence, though, that's an intentional decision, made by businessmen, that want to maximize sales through an in-app store and control a massive cultural space. That's a specific decision that they've made, and they've tuned their platforms to take advantage of people's worst instincts in order to perpetuate that. Often with the assistance and explicit consent of governments which want these platforms to be used to track everything.
They pour money into that system, it's an explicit decision they're making to push that onto people as a result of current economic and political structures, and it's due to those structures that they have that power to be able to do that, and due to those structures that these shit systems succeed, keep being cycled out in boom and bust cycles, over the better systems that people create.