No, the iterative improvement is to go back to letting communities develop the services and interactions they need rather than it being dictated to us by a monoplatform. It was like that with Twitter and now happening again with Bluesky.
If you don't see how this ends you're not paying attention. If you support this you're the problem.
The whole point of ATProto is personal ownership of content. The current degree of centralization is an undesirable but (arguably) necessary feature of bootstrapping a new platform.
Social media should never have entered the mainstream. Serious people like politicians should not be on Twitter. You should not be posting about your work drama on Facebook. Bluesky is not fundamentally better than either of those.