Decentralization as is promised is one way to mitigate this, but there's no economic incentive to go through with it. Investors will encourage Bluesky to kick that can down the road until people forgot they ever promised it in the first place.
That said, we will have a good amount of time with Bluesky as a more positive site before these changes kick in. But my hunch is that it'll be shorter than previous cycles. The rate of profit has fallen and investors don't have as much grace for companies that grow without revenue as they did 10-15 years ago.
Of all the sites that emerged out of the internet renaissance starting in the late 90's, it seems the only one that has hung on and still provides a good value, despite all it's issues, is Wikipedia. And that has to be because it's a non-profit powered by volunteer labor with no need to optimize revenue or make a profit.
I often dream of recreating the classic web using a very low cost subscription model (since cheap is better than free, because free is never truly free) and apps that are bootstrapped or crowdfunded instead of vc funded. Decentralization in that circumstance is much more achievable and way less of a threat, although it still comes with a ton of technical and political considerations.
Genuinely don't know why anyone would use it when you have perplexity, gemini, chatGPT search, etc. at your disposal.
Policy wonks and lawyers have run America into the ground with reckless spending and forever wars.
I would venture that introducing fresh ideas and technologists with first principles thinking will yield better results.