I‘d say I‘ve fully embraced the fediverse for over a year, running half a dozen instances for many fediverse services.
The discoverability is indeed an issue for many services but the worst on peertube. It actually has great content but nobody sees it due to it not being properly suggested.
On lemmy vs reddit I can proudly say a lot of topics have great content and its not easy to run out of it if you subscribe to varied communities. One big problem is how spoiled the users of commercial socials are. The amount of people there is of course insane compared to here so someone used to heroine (x, facebook and reddit) will always feel withdrawal on lemmy, mastodon and such.
Imo, we need to keep making strong, compelling cases for the fediverse, against the corpoverse and increase our technical arsenal. Peertube needs clients for every platform and a central discovery (for example instances.joinpeertube.org).
We also need more straightforward installation procedures so more people can host their own. Of course non tech folks will have a hard time either way but a „fire and forget“ compose file or ansible playbook, ideally next to one another like with awesome selfhosted on github.