Let's start with the following:
- ATProto has positioned itself as "no compromises on centralized use cases". Well, in that case, let's say it can't do *worse* than eg ActivityPub. This includes with replies. You can't do *worse* than ActivityPub on replies and mentioning someone, etc.
- We will interpret the most centralized system as one where there's only one provider for storage and distribution of all messages: the least amount of user participation
- The flip side of the spectrum of maximum decentralization is the *most* amount of participation: every user self-hosts.