The facts are that Threads has 275m MAU and has been #1 on the App Store almost continually since it launched. Bluesky is now #2 and rapidly growing. The momentum is real and significant.
And the world is sick of Elon Musk and US politics.
I don't think that's particularly true but even if it was, the site is overrun with crypto spam and porn bots that will drive people away. I know 3 people who have deactivated their account and switched to bluesky in the past week - and anecdotal evidence for many people on bluesky seems to suggest engagement levels are significantly higher. The network effects are really gaining traction as well.
I gave up on Twitter when I opened the app in public to find a porn video playing in the main feed, despite not following or interacting with any accounts of that nature previously. That was ~6 months ago and I haven't looked back.
Twitter is quite small as far as big social media platforms go (about 300 million, largest individual userbase by far US citizens [1]). Compared to Telegram with a billion users and Instagram, Facebook, TikTok/Douyin in the billions the constant talking about Twitter/Elon and so forth isn't that internationally relevant.
No offense but it's mostly Americans screaming at other Americans about how important America is. It's a little bit tiresome how much headspace that site and owner occupy these days on certain parts of the internet.
And the world is sick of Elon Musk and US politics.