I participated a bit in the process of when Bluesky was Jack Dorsey and Parag Agrawal's personal project. I also believe Jack and Parag were sincere about Bluesky as a decentralized social network protocol that Twitter would adopt, which is the directive that Bluesky was given as an organization.
When Jay Graber was awarded the position to lead Bluesky, I was not surprised. To me, Jay was the obvious choice to deliver what Bluesky was being directed, and I do think Jay is an excellent leader
There is also something which Bluesky gets right which the fediverse does not. I mentioned that Bluesky uses decentralization *techniques*, and the most important of those is content-addressing. This allows content to exist even when a server goes down.
This is a great decision and I have advocated that the fediverse do so as well. In fact several years ago I wrote a demo in @spritely's early days showing off how one could build a content-addressed ActivityPub in a spec-compatible way.