@gamingonlinux I don't have an account there but from what I know that's a pretty good summary, yeah.
Their big thing is that they're trying to run an ethical, sustainable social network. This is great in many ways, but unfortunately it also puts them in a pretty dire spot financially: https://cohost.org/staff/post/1690393-h1-2023-financial-up
That said, there seem to be a lot of cool people there, some of whom don't really post here (like @icculus) which makes me wish their platform had ActivityPub follows.