No that's just hip marketing. There is one instance (and technically a way to host personal data that nonetheless requires creating an account through the main service). The code is open though.

If anyone is interested in decentralized micro-blogging, there is Mastodon, and if you are interested in short form video there is Loops.

Loops is not yet decentralized, but it is based on ActivityPub and planned for open-sourcing and federation after Beta testing. The creator is an established developer in the community, so the claim seems credible.