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Great post btw. I think the data ownership argument could be made a bit more defensible. The example of an owner shutting down an instance could very well happen in ATproto if your PDS hosting provider shuts down and you don't have a backup, no?

The crucial difference is that on ATproto you can just host your data and/or back it up wherever you want, and that's much lower effort than running your own Mastodon instance (or at least it shoukd be).