You’ll be shocked to know that bluesky is open source then and PDS is well on its way to allowing you to host your own instance.
Anything that you’re not willing and able to keep financially sustained yet rely upon will likely be used against you by someone with more resources. This is why groups like Fosstodon, Beehaw, and Fedihosting Foundation stand out in these spaces. They are both transparent and financially sustainable. But most of that sustainability relies on unpaid volunteer labor.
In its developer’s blog, Bluesky stressed that “guardrails” are still in place. Most significantly, users can only self-host their own accounts for now, and in the next phase, self-hosted servers will initially be limited to 10 accounts each, with rate limits on usage.
https://www.theverge.com/2024/2/22/24080334/bluesky-self-hosting-servers-data-federated
What is the status now?
