To be fair, there was a viable and easy to use alternative (Reddit). And the community was largely tech savvy.
Today there are more computer users, so the average tech literacy is higher, but the tech literacy of the average computer user is lower. People want slick, easy to use, centralised solutions.
I'm not too concerned about this thought. I think realistically the fediverse could achieve a critical mass to keep it going, but won't be too large that it becomes just a bunch of noise (like Reddit).