This is not a very large social media site, but it bills itself as freedom of speech with some baseline rules. The trouble is, the rules are only interpreted by one person with unlimited power and human frailty in terms of interpretation of those rules. Therefore, it is more like a monarchy. It is not an alternative to Big Tech simply because it is smaller. Stacker.news, by contrast, has multiple moderation options built into it which are determined by the community which keeps abuses of power from happening as readily.
I would say that stacker.news has a future in terms of freedom of speech, whereas the blue dwarf model has no future since it repeats the mistakes of the past. When the web was small, there were many admins who did the same thing as blue dwarf who progressively sold out to larger entities. If it isn't decentralized when it comes to power, it probably will be abused by someone, somewhere, sometime.