With the hazard that such a large organization has, and the likely vested interest Meta has in destroying or absorbing the Fediverse, I feel that the default should be defederate, and only if Meta has proven to be acting in good faith, we can federate with them.

Agreed. I have an account on Fosstodon and I like how they handled it. Not too friendly with Meta, not jumping on the bandwagon when we don’t even know how it works yet