One hugely important question that I don't see being asked (perhaps because not many people have worked through the implications) is: Who gets to be a #Bluesky indexer? Theoretically, any entity that can maintain one can run an indexing server, but are there controls at the account server layer to allow or deny indexers access to the data coming through that server? What's to stop, say, a Cambridge Analytica or the CCP from mining all of the data on the network for political use?
Partial answer here: https://blueskyweb.xyz/blog/5-5-2023-federation-architecture
"The federation architecture allows anyone to host a BGS, though it's a fairly resource-demanding service."
BGS = Big Graph Service, #Bluesky's new jargon for network-crawling data indexers.
This is pretty much the answer I expected: No real guardrails on who gets to index the network and provide feeds. State actors aren't likely to be daunted by the resource demands.