Feeds offer algorithm transparency and you can use alternative frontends. ATProto can’t suddenly be turned to private and disable third party access, it is intrinsically public.

it even comes from the same guy

The seed money came from Twitter, allocated by Jack Dorsey and he had a position on the board that he didn’t really make use of. He literally left because he is against centralised moderation and didn’t have enough influence to prevent bsky implementing it.