Editing to let people know that I will be blocking anyone who feels the need to tell me why this graph is inaccurate. I truly don't care, but feel free to chime in with your useless take and land a spot on my block list! ๐
So, your home instance is gonna have a "vibe". Each instance is focused on different things and has different people so the Local feed will be very different. Different instances also block different things and have different rules.
Once you start following some hashtags, it matters less. Like you said, it's all mostly available from anywhere.