Afaik, whenever an Activitypub instance has defederated from another it has always had to do with some combination of bad user behavior, poor moderation, and/or spam. Are the various instance admins who have decided to preemptively block threads.net simply convinced that these traits will be inevitable with it? Is it more of a symbolic move, because we all hate Meta? Or is the idea to just maintain a barrier (albeit a porous one) between us and the part of the Internet inhabited by our chuddy relatives?
(For my part, I’m working on setting up my own Lemmy and/or Pixelfed instance(s) and I do not currently intend to defederate.)
In addition to what you said, I think additional aspects to consider are the open standards and protocols Facebook/Meta have already abandoned once it became convenient to do so:
The bare minimum price of Meta’s integration into the Fediverse should be nothing less than the return of those standards, and honestly even that may not be enough.